DLA Piper has represented Quantium Solutions Holdings Pte. Ltd (a wholly-owned subsidiary of our client Singapore Post Limited (SingPost)) on two significant deals in Hong Kong which were both signed and closed on Friday 28 August.
DLA Piper's Corporate team in Hong Kong represented Quantium Solutions Holdings Pte. Ltd on its acquisition of 50% of E Link Station Limited's issued shares of by way of subscription. The purchase represents 1,000,000 new shares for a consideration of HK$8 million. E Link operates a parcel locker business where it acts as a collection point by receiving and storing parcels on behalf of its end customers.
The team also worked with Quantium Solutions Holdings Pte. Ltd on its acquisition of a significant minority stake in Morning Express & Logistics Limited. The agreement covers the purchase of 33% of the issued share capital and is valued at HK$39,600,000 with a further potential earn-out payment of another HK$39,600,000. Morning Express & Logistics Limited is a logistics document and parcel delivery services in Hong Kong.
The deals signed after five months of negotiations and represents SingPost's continuing strategy to strengthen its eCommerce logistics presence in Hong Kong and establish an integrated ecosystem for parcel deliveries across multiple channels.
Heng Loong Cheong, partner at DLA Piper said: "This is a great deal for our client SingPost. This deal substantially strengthens their logistics presence, as part of their overall strategy to expand their e-commerce and digital business. In addition, this deal also gives them a strong foothold in the Hong Kong market. We are pleased to have worked with SingPost closely on this deal".
The team was led by Heng Loong Cheong, partner (Corporate, Hong Kong/Singapore), and supported by Meraj Noor, Associate (Singapore), Farrah Saleem, Registered Foreign Lawyer (Corporate, Hong Kong), Juliana Chan, Associate (Corporate, Hong Kong) and Jennifer Wu, Legal Assistant (Tax, Hong Kong). Employment advice was provided by Hong Kong Head of Employment Julia Gorham, supported by Anita Lam, Of Counsel and Stephanie Wong, Legal Assistant. Intellectual Property & Technology advice was provided by Hong Kong partner Scott Thiel, supported by Louise Crawford, and Jessie Buchan. Litigation advice was provided by Hong Kong partner Satpal Gobindpuri supported by Leo Cheng, Of Counsel. Real Estate advice was provided Susheela Rivers, Head of Real Estate Asia Pacific, and supported by Ada Wu, Senior Associate, Janice Yau, Senior Associate, Angela Yao, Associate and Karen Cheng, Trainee.
