Zhengzhou China Resources Gas - US$102 million privatisation by China Resources Gas Group

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Slaughter and May, Hong Kong, is advising Zhengzhou China Resources Gas on its proposed privatisation and withdrawal of H shares from listing on the Hong Kong Stock Exchange by China Resources Gas Group.

China Resources Gas Group is the controlling shareholder of Zhengzhou China Resources Gas, holding an interest of approximately 56.87%, and proposes to make a voluntary conditional offer under the Takeovers Code for the remaining H shares and shares in Zhengzhou China Resources Gas that it does not already hold, up to a maximum value of HK $795.13 million (US $102 million).

Zhengzhou China Resources Gas is principally engaged in the sale of natural gas, pressure control equipment and gas appliances, the construction of gas pipelines and the provision of gas pipeline renovation services in Zhengzhou, Henan Province, PRC. Zhengzhou China Resources Gas is established in the PRC and its H shares are listed on the Hong Kong Stock Exchange.

China Resources Gas is principally engaged in the sale and distribution of gas fuel and related products and gas connection operations in the PRC. China Resources Gas is incorporated in Bermuda and listed on the Hong Kong Stock Exchange.

The transaction was announced on 19 October 2011 and the H shares of Zhengzhou China Resources Gas are expected to be withdrawn from listing on the Hong Kong Stock Exchange on 14 February 2012.

Benita Yu (partner), Peter Lake (partner), Alana Lam (associate), Wendy Tong (associate)