Global law firm Clifford Chance has advised financial advisers on three recent Hong Kong public takeover transactions involving voluntary, pre-conditional voluntary and mandatory unconditional cash offers across the consumer, technology and industrial sectors.
The transactions were led by partner Tommy Tam, with support from senior associate Anson Wong, associates Priscilla Au Yeung and Jonathan Chan, and trainee solicitor Kristy Lam.
Tommy said, “These transactions demonstrate the breadth of our Hong Kong public M&A practice across a range of transaction structures and highlight our continued involvement in some of the most active areas of the market.”
These transactions include:
- Tongcheng Travel’s voluntary general cash offer for Dida
The firm advised Nomura International (Hong Kong) Limited as financial adviser to Tongcheng Travel Holdings Limited on its voluntary general cash offer for Dida Inc. at HK$1.3875 per share in cash. Dida Inc. provides carpooling marketplace services and digitised smart taxi services in China.
- Lens Technology’s voluntary general cash offer for Ju Teng International
The firm advised CITIC Securities (Hong Kong) Limited as financial adviser to Lens Technology Co., Ltd. on its HK$734.2 million share purchase and the voluntary general cash offer for Ju Teng International Holdings Limited at HK$2.20 per share in cash. Ju Teng International Holdings Limited is a leading manufacturer of casings and structural components for computers, smartphones and other consumer electronics.
- Aureole Halo’s HK$157.5 million acquisition of a 75% stake in Rimbaco Group and related mandatory general cash offer
The firm advised CMB International Capital Limited and CEB International Capital Corporation Limited as joint financial advisers to Aureole Halo Limited on its HK$157.5 million acquisition of a 75% stake in Rimbaco Group Global Limited and related mandatory cash offer at HK$0.167 per share in cash. Rimbaco Group Global Limited is a Malaysia-based construction contractor providing general contracting and engineering services.
These transactions build on the firm’s extensive track record on public M&A transactions, having previously advised China Modern Dairy Holdings Ltd. on its proposed takeover of China Shengmu Organic Milk Limited.
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