Sidley advised Dafeng Port (HK) Development Limited (Dafeng Port), in connection with its acquisition of 60% of the issued shares of Yancheng Port Overseas Investment Holdings Limited (the “Target”), which holds 57.46% of all the issued shares of Dafeng Port Heshun Technology Company Limited (HKEX: 8310). The total consideration is US$60 million (HK$471 million).
Upon completion, Dafeng Port will, through Huatai Financial Holdings (Hong Kong) Limited, make an unconditional mandatory general offer in cash for all the issued shares of Dafeng Port Heshun Technology Company Limited under the Code on Takeovers and Mergers.
Dafeng Port Heshun Technology Company Limited, whose shares are listed on GEM of The Stock Exchange of Hong Kong Limited, is principally engaged in trading business and the provision of petrochemical products storage business.
The Sidley team was led by partner Christopher Cheng.
Sidley has a preeminent M&A practice with over two decades of deal experience in the Hong Kong Code on Takeovers and Mergers and Listing Rules. We have been ranked as a Band 1 Corporate/M&A practice for 12 consecutive years by Chambers Asia Pacific/Greater China Region (2013 -2024).
