Global law firm White & Case LLP is advising Bank of China and China CITIC Bank on an aggregate $1.583 billion loan for a consortium led by Apex Technology Co., Ltd. and Pacific Alliance Group to finance the acquisition of Lexmark International Inc.

The merger, which is expected to close in the second half of 2016, is subject to approval by Lexmark's shareholders, regulatory approvals in the US, including the Committee on Foreign Investment, China and certain other foreign jurisdictions, and other customary closing conditions.

Apex Technology designs, manufactures and markets inkjet and laser cartridge components for remanufacturers and distributors and is the largest manufacturer and solution provider for the global aftermarket imaging supplies market. The company is headquartered in Zhuhai, Guangdong, China and creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes.

The White & Case team which advised on the transaction was co-led by partners David Li (Beijing), Joseph Brazil (New York), John Shum (Singapore) and Francis Zou (New York), and included partners Ray Simon (New York) and Jessica Zhou (Hong Kong) with support from counsel Robert Wann (New York), senior legal consultant Frank Shu (Shanghai) and associates Sophia Savryn (New York) and Tianren Liu (Beijing).