We have extensive experience in China, dating from the early days of our Hong Kong office. Our clients include leading PRC and international corporates and investment banks. We draw on our long-standing relationships with leading Chinese law firms to deliver the highest quality advice possible.
For more information about our China-related practice, please contact any of our Hong Kong partners or Charlton Tse in Beijing:
Our key experience includes advising:
China Power New Energy (CPNE), acting as the offeror, in relation to the proposed delisting of China Power Clean Energy Development Company (CP Clean Energy) from the Hong Kong Stock Exchange. The proposed delisting will be implemented by way of a scheme of arrangement pursuant to the Companies Ordinance of Hong Kong. The scheme consideration includes a cash alternative and a share alternative. An irrevocable undertaking to vote in favour of the proposed delisting has been obtained from China Three Gorges Corporation. Upon completion of the delisting, CPNE will own 100% of the shares of CP Clean Energy and CP Clean Energy will apply for the withdrawal of the listing of its shares on the Hong Kong Stock Exchange. The proposal was announced on 28 March 2019
COSCO SHIPPING Ports on its conditional agreement with Volcan Compañía Minera S.A.A. (Volcan) and Terminales Portuarios Chancay S.A. (TPCH) to subscribe for 60% of the shares of TPCH for a total consideration of US$225 million. TPCH is principally engaged in the design, development, and construction of a private, multipurpose terminal at the Port of Chancay, Peru and will be engaged in its operation and management after the completion of its construction. On completion of the subscription, which is subject to anti-trust and other conditions, TPCH will become a subsidiary of COSCO SHIPPING Ports, further extending COSCO SHIPPING Ports’ global presence. Volcan is a polymetallic mining company in Peru and is a significant producer of zinc, lead and silver. It is primarily listed on the Lima Stock Exchange. Volcan’s controlling shareholder is Glencore Plc, a Swiss mining company listed on the London Stock Exchange
the joint sponsors on the dual primary listing and global offering of shares of Yancoal Australia, Australia’s largest pure-play coal producer, on the Main Board of the Hong Kong Stock Exchange, raising approximately US$151 million. Yancoal Australia is the first dual primary listed company on the Australian Securities Exchange and on the Hong Kong Stock Exchange. In connection with the global offering, an accelerated renounceable entitlement offer of shares to existing shareholders of Yancoal Australia is being undertaken in Australia. Slaughter and May advised Morgan Stanley Asia, CMB International Capital and BOCI Asia, as well as the joint global coordinators, including Morgan Stanley Asia, CMB International Capital, BOCI Asia and Citigroup Global Markets Asia as to Hong Kong and U.S. laws on the global offering. Dealings in the shares of Yancoal Australia commenced on the Hong Kong Stock Exchange on 6 December 2018
Yingde Gases Group, China’s largest independent industrial gases supplier, on its sale from Beijing Originwater Technology, a China-based company principally engaged in the sale of water purifiers, as well as the provision of waste water treatment solutions, of its strategic review and possible competing offers and ultimate takeover by private equity firm PAG Asia Capital. Prior to the takeover there was a contentious boardroom and shareholder battle among the three co-founders. The transaction was recognised for three awards: it was shortlisted for Private Equity Deal of the Year at the IFLR Asia Awards 2018; won Deal of the Year 2017 at the Asia-mena Counsel Deals of the Year 2017; and was a finalist for Private Equity Deal of the Year 2018 at the China Law & Practice Awards 2018. It was also ranked ‘Commended’ in the FT Asia-Pacific Innovative Lawyers Report 2018 in the category ‘Legal Expertise: Driving Value’ in the international firms section
Alibaba Group in relation to its US$2.88 billion acquisition, through its indirect wholly-owned subsidiary Taobao China Holding, of an economic interest of approximately 36.16% in Sun Art Retail Group, a company listed on The Stock Exchange of Hong Kong. This transaction was ranked ‘Commended’ in the FT Asia-Pacific Innovative Lawyers Report 2018 in the category ‘Legal Expertise: Enabling Business Growth’ in the international firms section. This transaction was also a finalist for M&A Deal of the Year 2018 at the China Law & Practice Awards 2018
China National Building Material Company in relation its merger by absorption of China National Materials Company by way of share-exchange. This transaction was ranked ‘Commended’ in the FT Asia-Pacific Innovative Lawyers Report 2018 in the category ‘Legal Expertise: Managing Complexity and Scale’ in the international firms section. This transaction was also a finalist for M&A Deal of the Year 2018 at the China Law & Practice Awards 2018
OOIL, in relation to the US$6.3 billion cash offer by UBS on behalf of Faulkner Global Holdings, a wholly-owned subsidiary of COSCO SHIPPING Holdings, together with Shanghai Port Group, a wholly-owned subsidiary of Shanghai International Port Group, as joint offerors to acquire all the issued shares in OOIL. The offer was announced on 7 July 2017, the pre-conditions of the offer were fulfilled on 29 June 2018, and the offer was launched on 6 July 2018. This transaction was recognised in the China Business Law Journal’s Deals of the Year 2017 Report and awarded Deal of the Year 2017 in the Overseas M&A; and Shipping categories. It was also a finalist for M&A Deal of the Year 2018 at the China Law & Practice Awards 2018
CICC, as financial adviser to the joint offerors and as lender, in relation to the privatisation of Dalian Wanda Commercial Properties. The transaction was ranked Highly 'Commended' in the FT Asia-Pacific Innovative Lawyers 2017 Report in the category ‘Legal Expertise: Managing Complexity & Scale’ in the international firms section
China Power International Development in relation to its acquisitions of the entire interest in certain clean energy project companies from CPI Holding, a controlling shareholder of China Power International Development and a wholly-owned subsidiary of State Power Investment Corporation (SPIC), and from SPIC, an indirect controlling shareholder of China Power, for a total consideration of HK$5.8 billion
John Swire & Sons (H.K.) Limited on the sale of its entire direct shareholding in Swire Properties Limited, a company listed on the Hong Kong Stock Exchange. The gross proceeds of the sale amount to approximately HK$4.88 billion.
Hong Kong Aircraft Engineering Company Limited (HAECO) on the establishment of a joint venture between HAECO and Cathay Pacific Airways Limited for the provision of inventory technical management services in connection with the maintenance and management of aircraft components.
Alibaba Group Holding Limited in relation to its acquisition, through its subsidiary Alibaba Investment Limited, of the media business of SCMP Group Limited (SCMP), a company listed on the Hong Kong Stock Exchange, for a total consideration of approximately HK$2.06 billion; and the injection of its Online Movie Ticketing and Yulebao businesses into Alibaba Pictures Group Limited. The total consideration for the asset purchase is approximately HK$4.06 billion (approximately US$520 million).
COSCO Pacific Limited (CPL) on the formation of its joint venture with China Merchants Holdings (International) Company Limited and China Investment Corporation for the acquisition of approximately 65% of Kumport Terminal, the third largest container terminal in Turkey which is a strategic location along the "Silk Road Economic Belt" and "the 21st Maritime Silk Road".
Liu Chong Hing Investment Limited and its subsidiary, Chong Hing Bank Limited, a Hong Kong-based commercial bank, on the US$1.5 billion acquisition by municipality-owned and Guangzhou-based Yue Xiu Enterprises (Holdings) Limited.
Wing Tai Properties Limited, a company listed on the Hong Kong Stock Exchange, on the sale of its 79.26% interest in its Hong Kong listed subsidiary, Winsor Properties Holdings Limited, to the Vanke Group, one of the leading real estate developers in the PRC.
Wanda Hotel Development Company Limited on the sale of a 65% interest in it to Dalian Wanda Commercial Properties Co., Ltd. and the related mandatory unconditional general offer by Dalian Wanda. We subsequently advised on its joint venture with Dalian Wanda for the acquisition and development of the London One Nine Elms project.
China Reinsurance (Group) Corporation (China Re) on the US$2 billion global offering and the listing on the Main Board of the Hong Kong Stock Exchange of its H shares. China International Capital Corporation Hong Kong Securities Limited, UBS Securities Hong Kong Limited and HSBC Corporate Finance (Hong Kong) Limited were the joint sponsors. Dealing in the shares of China Re on the Hong Kong Stock Exchange commenced on 26 October 2015 and it is one of the largest IPOs in Hong Kong in 2015.
The Hong Kong Monetary Authority on the establishment of the Hong Kong SAR Government's Hong Kong dollar retail bond issuance programme and on the first three issues under the programme of inflation-linked 'iBonds'.MTR Corporation Limited (MTR) in relation to an Entrustment Agreement with the Hong Kong Government for the construction and commissioning of the Shatin to Central Link.
China Construction Bank (London) Limited and its parent company, China Construction Bank Corporation, in connection with a US$200 million acquisition finance facility for Geely Sweden AB, a subsidiary of Zhejiang Geely Holding Group Co. Ltd., the largest private car-maker in China.
Thermo Fisher Scientific Inc., on the competition aspects of its US$13.6 billion takeover of Life Technologies Corporation which included competition clearances in nine jurisdictions including China, Japan, South Korea, Australia, and New Zealand.