Paul Hastings, a leading global law firm, announced today that the firm advised China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng”) in relation to the acquisition of a 60% equity interest in Central Point Worldwide Inc. (“Central Point”) by its indirectly wholly-owned subsidiary, Ocean Sino Holdings Limited.
The consideration for the acquisition is HK$2.184 billion (US$281 million), which is satisfied by the allotment and issuance of 1,400,000,000 shares by China Rongsheng.
Central Point indirectly holds 100% interests in КыргызжерНефтегаз（吉爾吉斯大陸油氣有限公司）, a company incorporated in Kyrgyzstan with limited liability which has the right to cooperate with the national oil company of Kyrgyzstan in the operation of the five oilfield zones located adjacent to the Fergana Valley of Kyrgyzstan.
Paul Hastings has advised China Rongsheng on its US$1.8 billion Hong Kong IPO and global offering on the Main Board of the Hong Kong Stock Exchange in 2010 and its US$180 million 7% guaranteed convertible bond issuance in 2013.
The Paul Hastings team was led by corporate partner Vivian Lam, with support from of counsel Fang Pei, and associates Erika Wan and May Lun.
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