Simpson Thacher – Yunfeng Financial Group to Acquire Majority Stake in MassMutual Asia

Simpson Thacher is representing Yunfeng Financial Group Limited (HKSE: 376) in connection with its acquisition of a 60% stake in MassMutual Asia Limited, a Hong Kong-based insurance company, from MassMutual International LLC. The remaining 40% interest will be acquired by several other investors. MassMutual International will receive HK$7.86 billion (approximately US$1.01 billion) in cash and 800 million shares in Yunfeng Financial Group at HK$6.50 per share, representing approximately 24.82% of the enlarged issued share capital of Yunfeng Financial Group.

The transaction is subject to, among other conditions, approvals from the Hong Kong Insurance Authority, The Stock Exchange of Hong Kong Limited, the Hong Kong Securities and Futures Commissions and other regulators as well as the independent shareholders of Yunfeng Financial Group.

Yunfeng Financial Group is a leading Asia focused investment and financing platform principally engaged in the provision of financial services, including securities brokerage, wealth management and investment, corporate finance consultancy, ESOP (Employee Stock Ownership Plan) administration and investment research.

The Simpson Thacher team for this transaction includes Celia Lam, Venus Lo, Cora Lei and Grace Wong (M&A and Corporate).

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