Baker & McKenzie Advises Yue Xiu on Its Proposed Acquisition of a Controlling Stake in Chong Hing Bank

Baker & McKenzie is advising Yue Xiu Enterprises (Holdings) Limited (“Yue Xiu”) on its proposed acquisition of a controlling stake in Chong Hing Bank Limited by way of a partial offer.  The total consideration for the partial offer will be approximately HK$11.64 billion (if valid acceptances are received in respect of 75% of shares in the bank).  The proposed acquisition will further enhance Yue Xiu’s market profile and position as an integrated financial service provider in the Pearl River Delta Region.

Nomura International (Hong Kong) Limited is acting as Yue Xiu’s financial adviser and one of the mandated lead arrangers for the financing.

The Baker & McKenzie team is led by Dorothea Koo, a corporate partner based in Hong Kong, and assisted by special counsel, Edmund Chan, on the acquisition aspects.  The multi-disciplinary team also includes lawyers from our banking and finance practice (led by partners Andrew Lockhart and Simon Leung with support from special counsel Frank Meier), our regulatory practice (led by partner Karen Man), our insurance practice (led by partner Martin Tam), our property practice (led by partner Debbie Cheung) and our IP practice (led by partner Ruby Chan).

Commenting on the deal, Ms. Koo said, “We are delighted to have the opportunity to act for Yue Xiu on yet another milestone transaction of Yuexiu Group, a long-standing client of the Firm.  We look forward to further cementing our relationship with the Yuexiu Group as they integrate and expand their business units across Greater China.”

In the last 18 months, Baker & McKenzie has advised on Yue Xiu Enterprises (Holdings) Limited’s corporate notes issuance, Yuexiu REIT’s investment in Guangzhou International Finance Center, Yuexiu Property Company Limited’s US$ 2 billion medium term note programme and Yuexiu REIT’s US$1 billion medium term note programme.

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