Slaughter and May, Hong Kong, advised Dongfeng Asset Management Co. Ltd. (Dongfeng Asset), a wholly owned subsidiary of Dongfeng Motor Corporation (DFM), on its cornerstone investment in the proposed initial public offering of Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) for a total consideration of US$15 million.
We are pleased to announce that Cecilie Aasprong Dyrnes is promoted to partner in our Tax department as from 1 January 2015.
We are pleased to announce that Cecilie Aasprong Dyrnes is promoted to partner in our Tax department as from 1 January 2015. Dyrnes joined AdeB as senior lawyer in 2013 and was prior to that director and lawyer in PwC since 2002. Dyrnes has also experience from Oslo County Tax Office and The Customs Authority.
DWF has advised Business Growth Fund (BGF) on its decision to invest further in Boost Juice Bars UK (Boost) following a continued period of growth. BGF’s investment in the company now stands at £3.9million, up from the £2.5million initially committed in December 2012.
Slaughter and May advised Malaysia Airports Holdings Berhad (MAHB) on the acquisition of a further 40% equity stake in each of Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim ve Isletme A.S. (ISG) and LGM Havalimani Isletmeleri Ticaret ve Turizm A.S. (LGM) from the Limak Group for a total cash consideration of approximately EUR 280 million representing an equity value of approximately EUR 700 million for 100% of the companies. The transaction closed on 31 December 2014.
Clifford Chance has advised Hexagon Investments B.V., an entity controlled by funds advised by CVC Asia Pacific, on its sale of a partial stake in the Philippine's Rizal Commercial Banking Corporation (RCBC), to Taiwan's Cathay Life Insurance Co. Ltd. This transaction forms part of Cathay Life's acquisition of a combined 20% stake in RCBC in which International Finance Corporation also sold a portion of its shares in the Philippine bank and RCBC agreed to issue shares directly to Cathay Life.
Zhonglun has advised Sino Water Limited Partnership on its HK$327 million investment in Hong Kong-listed Gemdale Properties and Investment Corporation Limited by way of share subscription. The Zhonglun deal team was led by Hong Kong corporate partner Victor Pang, assisted by associates Sandy Shum, Guo Cheng and Huang Cheng.
Freshfields Bruckhaus Deringer has advised China Communications Construction Group (CCCG) on its acquisition of a 24.288% stake in Greentown China Holdings Limited (Greentown China).
The HK$6bn (US$770m) stake was purchased from existing controlling shareholders and the deal was announced on 23 December 2014.
Greentown China is one of China’s leading largest property developers.
The Freshfields team advising on the transaction was led by China Chairman Teresa Ko and Beijing corporate partner Richard Wang.
IGopher Asset Management Company, Ltd (“GOPHER”), the subsidiary of NYSE listed company Noah Holdings, Ltd (NYSE:NOAH) (“NOAH”), and Shanghai Sunac Greentown Investment Holdings, Ltd (“SUNAC-GREENTOWN”), a joint venture of SUNAC CHINA (01918.HK) and GREENTOWN CHINA (03900.HK), have successfully entered into the agreement in respect of the purchase of a 32-storey Class A business building through asset acquisition by the Gopher real estate fund, with the asset price in an aggregate amount of RMB 3.126 billion.
Ashurst acted for the founding shareholders of Greentown China Holdings Limited (Greentown China), a Hong Kong-listed property developer based in Hangzhou, China, on their conditional sale of 24.3% stake in Greentown China to China Construction Communications Group (CCCG) at a total consideration of approximately HK$6 billion. Upon completion, the founding shareholders (Mr Song Weiping, the existing board chairman, and Mr Shou Bainian, the existing chief executive officer) will retain an aggregate of 18.5% stake in Greentown China, while CCCG will be interested in 24.3% stake.
A Travers Smith team, led by Private Equity partners James Renahan and Edmund Reed, has advised long standing client Phoenix Equity Partners ("Phoenix") on their investment in Riviera Travel ("Riviera").
Riviera is one of the UK's leading providers of overseas escorted tour holidays and river cruises (its core customers typically being travellers over the age of 50). Riviera has grown at a significant rate over the past few years, consistently delivering turnover growth of over 20% per annum. In 2014, Riviera carried over 115,000 passengers.