Slaughter and May is advising Cathay Pacific Airways Limited on its proposed acquisition of Hong Kong Express Airways Limited27 Mar 2019
Slaughter and May is advising Cathay Pacific Airways Limited (Cathay Pacific) on its proposed acquisition of 100% of the issued share capital of Hong Kong Express Airways Limited (HKE) for a consideration of HK$4.93 billion, comprising a cash consideration of HK$2.25 billion to be paid in cash and a non-cash consideration of HK$2.68 billion to be settled through the issue and novation of promissory loan notes. Completion is conditional upon certain conditions being fulfilled, including clearances required from relevant competition authorities, consents under relevant contracts of HKE and the termination or variation of certain arrangements between HKE and its related parties.
Cathay Pacific is an international airline registered and based in Hong Kong, and is listed on the Hong Kong Stock Exchange. It offers scheduled cargo and passenger services to more than 110 destinations around the world.
HKE is Hong Kong’s only low-cost carrier.
Corporate: Peter Brien (partner), Lisa Chung (partner), Rahul Mehta (associate), Justin Chan (associate), Fion Law (associate), Christine Yu (associate), Stephanie Pun (associate), Sarah Peterson (associate), Patricia Anyaegbuna (associate), Adrian Chan (trainee solicitor)
IP/IT: Susie Middlemiss (partner), Emma Haywood (associate)
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