Slaughter and May advised on the boardroom and shareholder battle of Yingde Gases, its strategic sale review, possible takeover offers and the ultimate takeover by PAG
Slaughter and May (Hong Kong) advised the formerly HKSE-listed Yingde Gases Group Company Limited (Yingde) in a highly contested and publicised boardroom and shareholder battle, as well its strategic review for a sale of the company, the possible offers from, amongst others, Air Products. Yingde Gases was ultimately subject to a takeover and privatisation by PAG for an aggregate consideration of HK$11.34 billion, with undertakings from certain shareholders of Yingde to accept the offer subject to a competing offer mechanism.
The offer was completed in May 2017 followed by a delisting of Yingde shares from the HKSE in September 2017.
Yingde was one of the largest independent utilities suppliers in China which produces, supplies, and distributes various industrial gas products to on-site and merchants.
PAG is one of the largest Asia-based private equity firms.