Freshfields Bruckhaus Deringer has advised two China Shipping Group (CS) entities on a number of simultaneous asset acquisitions, disposals and a subsequent restructure as the group undergoes a broader restructure involving China Ocean Shipping Group (COSCO).

Freshfields advised China Shipping Container Lines Company Limited (CS Container) on its acquisition of equity interests in 10 target companies, from its parent company China Shipping Group, as well as China Ocean Shipping (Group) Company (COSCO Company) and COSCO Pacific Limited (COSCO Pacific).

The firm also advised CS Container on its disposal of equity interests in six entities to COSCO Company, COSCO Pacific and/or CS.

Additionally, Freshfields advised China Shipping Development Company Limited (CS Development) on its acquisition of Dalian Ocean Shipping Company Limited from COSCO Company, and its disposal of China Shipping Bulk Carrier Co., Limited to COSCO Company.

The various transactions, which remain subject to regulatory approvals, form part of a larger restructure involving both COSCO and CS, and represent a substantial reconfiguration of two of China’s leading state-owned enterprises.

The Freshfields team advising on the transactions was led by China Chairman Teresa Ko, corporate partner Richard Wang, US corporate partners Calvin Lai and David Ludwick, finance partners Thomas Ng and Andrew Heathcote and corporate counsel Jason Xu.