Dechert LLP served as legal counsel to Far East Energy Limited (“FEEL”), the controlling shareholder of MIE Holdings Corporation (“MIE”), a Hong Kong-listed company, in connection with a letter agreement in relation to a Put and Call Option Agreement previously entered into by, amongst others, FEEL and Celestial in order to facilitate the sale of 212 million shares of MIE by Celestial to an independent third party. MIE is a leading independent upstream oil and gas company engaged in the exploration and production of oil and gas, operating onshore in China, Kazakhstan and USA through its subsidiaries.

Dechert also advised Huge Harvest International Limited (“Huge Harvest”), an investment holding company incorporated in the British Virgin Islands which is principally engaged in hotel operation and management in the PRC through its subsidiaries, on its approximately HK$326 million acquisition of New Century Real Estate Investment Trust (“New Century REIT”), a Hong Kong-listed collective investment scheme. The transaction closed on January 6, 2017. The transaction involved an acquisition of units from Blue Sky Holdings Limited, which is a subsidiary within The Carlyle Group, and an unconditional mandatory general cash offer made by China Galaxy International Securities (Hong Kong) Co., Limited on behalf of Huge Harvest to acquire all of the issued units of New Century REIT.

Both transactions were led by corporate partner, Stephen Chan of Dechert’s Hong Kong office, joined by associate Denise Tsui, and Jacqueline Foo in Hong Kong.