Fangda represented Haier Electronics Group Co., Ltd. (HK Stock Code: 1169) (“HEG”) in the privatization of HEG by way of a scheme of arrangement and the withdrawal of listing of HEG (the “Privatization”).
As consideration for the Privatization, Haier Smart Home Co., Ltd. (“HSH”) will issue 1.60 new HSH H Shares and make a Cash Payment of HK$1.95 per HEG share. The Privatization of firm intention was announced on July 31, 2020 and the scheme document was despatch on November 16, 2020.
In the Privatization, HEG is estimated to be valued over US$11 billion, this is the largest scale privatization of a Hong Kong listed company as of July 31, 2020.
The Fangda team on this deal was led by partners Colin Law, Edward Bong, Xueyan Jiang, Jian Fang, Siyuan Pan, the team members comprised associates Hong Ding, Eric Li, Yao Zhang and Yvonne Gan. Fangda advised on the transactions, prepared for the transaction documents and other related documents.