DLA Piper said today it has advised Haier Electronics Group Co., Ltd. (HKSE: 1169) on a HK$1,067 million (US$137 million) investment by Carlyle Group in the company through convertible bonds and warrants.
The transaction, completed in August, gives Carlyle a 9% stake in Haier Electronics. The deal provides Haier Electronics with extra flexibility for strategic investments in the next few years.
Led by Jeffrey Mak, a partner who specialises in securities and corporate transaction at DLA Piper in Hong Kong, the DLA Piper team included lawyers Frances Li, Iris Yuen, Simon Lo and Vickie Feng.
Commenting on the transaction, Jeffrey Mak said: “We are delighted to advise Haier on this highly complex and strategic transaction. The deal may be regarded as innovative, especially in terms of materialising the needs of both parties in the context of rapidly changing domestic consumption industry in China.”
Haier Electronics is a Hong Kong-listed subsidiary of white goods firm Haier Group, China’s largest maker of washing machines and water heaters. As a leader in white goods manufacturing and distribution, Haier Electronics enjoys an extensive distribution channel in Tier 3 and 4 areas in China.
Linklaters is the legal adviser to Carlyle, while Anglo Chinese Corporate Finance, Limited, is the financial adviser to Haier Electronics Group Co., Ltd on this transaction.
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