Appleby acted as BVI counsel to Shenyin & Wanguo Securities Company Limited (Shenyin & Wanguo) in respect to its acquisition of Hong Yuan Securities Company Limited (Hong Yuan) for approximately US$6.4 billion in stock.
The transaction created the nation’s fourth-largest brokerage with total assets of 105.4 billion yuan. It also marks the largest takeover in the PRC financial industry, surpassing Ping An Insurance’s US$4.3 billion acquisition of Shenzhen Development Bank in 2011.
The Appleby team was led by Li-Lee Tan, a counsel in the Hong Kong office, assisted by Vincent Chan, associate. Haiwen & Partners acted as the PRC legal adviser to Shenyin.
For further information please contact Queenie Ngan.
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