Slaughter and May is advising Shangdong Sanxing Group on the Proposed Privatisation of Changshouhua Food Company Limited

Slaughter and May, Hong Kong, is advising Shangdong Sanxing Group on the proposed privatisation, through its subsidiary Sanxing Trade Co., Ltd (Sanxing Trade), of HK listed Changshouhua Food Company Limited (CSH). The proposal will be implemented by way of a scheme of arrangement pursuant to the Companies Law of the Cayman Islands. Upon completion of the proposal, Sanxing Trade will hold 100% of the shares of CSH, and CSH will apply for withdrawal of the listing of its shares on the Hong Kong Stock Exchange.

The proposal was announced on 7 September 2020. The maximum amount of cash required to implement the proposal is approximately HK$1,150 million (approximately US$150 million) (for up to 47.86% of the issued share capital of CSH).

Shandong Sanxing Group engages in the processing and distribution of edible oil products and production of aluminum alloy. The Offeror, Sanxing Trade, is part of the Shandong Sanxing Group and is a company incorporated in Mauritius with limited liability.

CSH is a company incorporated in the Cayman Islands with limited liability, whose shares are listed on the Main Board of the Hong Kong Stock Exchange. CSH, together with its subsidiaries, produces and sells different types of edible oil products and food products.