Slaughter and May is advising Liu Chong Hing Investment Limited (LCHI) and its subsidiary, Chong Hing Bank Limited (CHB), a Hong Kong-based commercial bank, on the pre-conditional voluntary cash partial offer to be made by Yue Xiu Enterprises (Holdings) Limited (Yuexiu) for up to 75% of the shares in CHB, and on the acquisition by LCHI of CHB's headquarters property for a consideration of HK$2,230 million (US$288 million) and the leaseback of parts of the property to CHB. The value of partial offer would range from HK$7,763 million (US$1 billion) to HK$11,644 million (US$1.5 billion) depending on the level of acceptances.

Both LCHI and CHB are listed on the Main Board of the Hong Kong Stock Exchange and Yuexiu is the principal investment vehicle of the Guangzhou Municipal People's Government of the People's Republic of China.

Our Hong Kong office is advising.

CONTACTS

Corporate and Commercial: David Watkins (partner), Lisa Chung (partner), Dennis Li (associate), Susan Wong (associate), Clara Choi (associate), Alana Lam (associate), Ben Heron (associate), Kevin Ip (associate), Di Yu (trainee), Vincent Chan (trainee), Justin Chan (trainee), Adrienne Yeung (trainee), Christine Yu (trainee)