Upon completion of the transaction, IBM will become Lenovo's second-largest shareholder, with an 18.9% stake; Lenovo and IBM will implement a broad-based strategic alliance in which IBM will be the preferred services and customer financing provider to Lenovo; and Lenovo will be the preferred supplier of PCs to IBM. Clifford Chance's deal team was led from New York by partners John Healy and Brian Hoffmann, and partner Amy Lo in the firm's Hong Kong office led the team advising on Hong Kong Stock Exchange matters. Other New York lawyers working on the deal included: Tax counsel, Phil Wagman, associates Ben Sibbett, Alex Hill, Barbara Lubliner, Al Ricotta and Timo Rehbock (all M&A), Victoria Manthas (Real Estate) and Daniel Goldfisher (Intellectual Property).