Slaughter and May, Hong Kong, is advising Alibaba Group Holding Limited (Alibaba), in relation to its proposed privatisation, through its wholly owned subsidiary Alibaba Investment Limited, of Intime Retail (Group) Company Limited (Intime) together with Intime International Holdings Limited as joint offerors to be implemented by way of a scheme of arrangement (Scheme) and the proposed withdrawal of listing of its shares on the Hong Kong Stock Exchange.The Scheme was announced on 10 January 2017. The amount of cash required to implement the Scheme would be approximately HK$19.8 billion (US$2.6 billion). China International Capital Corporation Hong Kong Securities Limited is the financial adviser to the joint offerors.
The Scheme was announced on 10 January 2017. The amount of cash required to implement the Scheme would be approximately HK$19.8 billion (US$2.6 billion). China International Capital Corporation Hong Kong Securities Limited is the financial adviser to the joint offerors. Intime is a Cayman-incorporated company listed on the Hong Kong Stock Exchange (Stock Code: 1883) which is principally engaged in the business of operation and management of 29 department stores and 17 shopping malls in the PRC.
Intime is a Cayman-incorporated company listed on the Hong Kong Stock Exchange (Stock Code: 1883) which is principally engaged in the business of operation and management of 29 department stores and 17 shopping malls in the PRC.Alibaba, whose shares are listed on the New York Stock Exchange, is the world’s largest online and mobile commerce company and has developed leading businesses in consumer e-commerce, online payment and financial services, business-to-business marketplaces, cloud computing, logistics and digital entertainment.
Alibaba, whose shares are listed on the New York Stock Exchange, is the world’s largest online and mobile commerce company and has developed leading businesses in consumer e-commerce, online payment and financial services, business-to-business marketplaces, cloud computing, logistics and digital entertainment.This transaction follows the successful completion in 2014 of the HK$5.37 billion strategic investment by Alibaba into Intime by way of subscription of shares and convertible bonds and its establishment of an O2O joint venture with Intime, which Slaughter and May advised on as legal counsel to Alibaba.
This transaction follows the successful completion in 2014 of the HK$5.37 billion strategic investment by Alibaba into Intime by way of subscription of shares and convertible bonds and its establishment of an O2O joint venture with Intime, which Slaughter and May advised on as legal counsel to Alibaba.Fangda Partners and Walkers advised Alibaba on PRC law and Cayman law respectively.
Fangda Partners and Walkers advised Alibaba on PRC law and Cayman law respectively.
Contacts
Corporate: Benita Yu (partner), Eric Fung (associate), Alison Tsoi (associate), Justin Chan (associate).
