Weil is representing Deutsche Bank as Lead Financial Advisor to a fund advised by DCP Capital (“DCP”) in connection with DCP’s $1.7 billion proposed acquisition and potential take-private of HKEx-listed Sun Art Retail Group Ltd (“Sun Art”). The transaction was announced on January 1, 2025.
The proposed take-private acquisition is structured by way of an initial $1.3 billion acquisition of approx. 78.70% of Sun Art from affiliates of Alibaba Holding and, upon the closing of that acquisition, the resulting $400 million mandatory general offer for all remaining shares in Sun Art. Weil worked closely with Deutsche Bank and other parties in structuring certain critical aspects of the transaction.
Listed on the Hong Kong Stock Exchange, Sun Art Retail Group Ltd (HKEx: 6808) is a leading hypermarket operator in China.
The Weil team is led by Hong Kong Corporate and Private Equity partner Henry Ong and includes counsel Jacky Sin and associate Sam Flood in Hong Kong, with the support of Sophie Smith (Private Funds, London), Alex Eagle and Rebecca Lee (Debt Finance, London), and Isolde Tsukabayashi (Debt Finance, Hong Kong).
