Slaughter and May is advising CICC - privatisation of Dalian Wanda Commercial Properties Co., Ltd.

31 May 2016

Slaughter and May, Hong Kong, is advising China International Capital Corporation as financial adviser (through China International Capital Corporation Hong Kong Securities Limited) to the joint offerors and as lender (through CICC Hong Kong Finance (Cayman) Limited) under a certain funds facility, in relation to the privatisation of Dalian Wanda Commercial Properties Co., Ltd. (the Offeree). The privatisation is structured as a voluntary conditional general offer for the Offeree’s Hong Kong listed H Shares. The offer was announced on 30 May 2016.

The Offeree is a leading commercial property developer, owner and operator in China and a leading luxury hotel owner in China. It ranks amongst the largest commercial property owners and operators worldwide.

Dalian Wanda Group Co., Ltd. (Dalian Wanda Group), the parent company and controlling shareholder of the Offeree, has implemented the Offer on behalf of the joint offerors.

Subject to the satisfaction of the conditions, the maximum offer consideration payable is HK$34,454,513,280 (approximately US$4.47 billion). The offer is made by nine joint offerors, which are primarily investment vehicles established for the sole purpose of the Offer. 14 consortium investors (the Consortium Investors) have agreed to invest in the joint offerors. Financing for the offer will come from cash paid or to be paid by Consortium Investors and/or loan facilities.

Update 2 June 2017: The transaction was ranked as Highly Commended in the FT Asia-Pacific Innovative Lawyers 2017 Report, published on 2 June 2017, in the Managing Complexity & Scale Legal Expertise International firms category.

Contacts

Corporate: Peter Brien (partner), Benita Yu (partner), Frank Bi (associate), Wei-Lih Ho (associate), Christine Yu (associate); Financing: Peter Lake (partner), Mike Ringer (associate), Rahul Metal (associate), Adrienne Yeung (associate)


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