Slaughter and May advised China Orient Asset Management on the general offer made by its subsidiary for Shanghai Zendai Property
Slaughter and May, Hong Kong, advised China Orient Asset Management (International) Holding Limited (COAMI) on the mandatory general offer made by its subsidiary, Smart Success Capital Limited (Smart Success), for the entire issued share capital of Shanghai Zendai Property Limited (Zendai) other than the 50.03% shares already acquired by Smart Success from certain existing shareholders.
Based on the offer price of HK$0.20 and the number of issued shares of Zendai as of the date the offer was announced, the issued share capital of Zendai was valued at approximately HK$3 billion.
COAMI is an indirectly wholly-owned subsidiary of China Orient Asset Management Corporation (COAMC), a state-owned enterprise organised under the Ministry of Finance of the People's Republic of China and is a major state-owned asset management company in China. COAMI is the primary overseas platform of COAMC and serves as a link between COAMC's domestic and international businesses.
Zendai is principally engaged in construction of commercial and residential properties, operation of hotels, and leasing, management and agency of commercial and residential properties.