The placing agreement was signed on 30 November 2014, pursuant to which the sole Placing Agent, Morgan Stanley, will, on behalf of Ping An, place an aggregate of 594,056,000 new H shares at the placing price of HK$62.00, to no fewer than six but no more than ten independent professional, institutional and/or individual investors on a fully underwritten basis. More >>
Tags: DLA Piper | Beijing | Shanghai
Herbert Smith Freehills has advised Huaneng Power International Inc., one of China’s largest listed power producers, on its acquisition of equity interests in ten power plants in China for a total consideration of US$1.19 billion.
Beijing-based Huaneng Power is the listed unit of the mainland’s largest power producer, China Huaneng Group. The company is mainly engaged in developing, constructing, operating and managing large-scale power plants throughout China. More >>
Tags: Herbert Smith Freehills LLP | Beijing | Hong KongPaul, Weiss client Encana Corporation closed the cash tender offer made by its indirect, wholly owned subsidiary, Alenco Acquisition Company, Inc., to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon Energy Inc. Promptly following the consummation of the offer, Alenco Acquisition was merged with, and into, Athlon, with Athlon as the surviving entity and becoming an indirect, wholly owned subsidiary of Encana, a leading North American energy producer. As previously announced, the acquisition price was approximately $5.93 billion, and Encana has assumed Athlon’s $1.15 billion of senior notes, for a total transaction value of approximately $7.1 billion. More >>
Tags: Beijing | Hong Kong | New York
Faegre Baker Daniels is representing global adhesives provider H.B. Fuller Company in acquiring Tonsan Adhesive, Inc., a Chinese company with an annual revenue of about $100 million. The agreement was signed on June 25, and the estimated $230 million acquisition is expected to close by the end of 2014.
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Davis Polk advised China Mengniu Dairy Company Limited in connection with its Regulation S only English law offering of $500 million 3.5% bonds due 2018. Mengniu is a leading dairy product manufacturer in China and offers a wide range of dairy products, including liquid milk products (such as UHT milk, milk beverages and yogurt), ice cream and other dairy products (such as pediatric milk formula and cheese).
Tags: Davis Polk & Wardwell | Beijing
Global law firm White & Case LLP has advised China Development Bank Corporation on its US$800 million loan facility provided to Volvo Personvagnar AB.
Tags: White & Case LLP | Beijing
Simpson Thacher represented Boyaa Interactive International Limited in connection with its initial public offering in Hong Kong and Rule 144A/Regulation S offering of an aggregate of 184,390,000 ordinary shares (prior to the exercise of the over-allotment opinion), which raised approximately HK$986.5 million (approximately US$127.3 million) in gross proceeds. Boyaa Interactive International Limited is an online card and board game developer and operator with a leading mobile game business in its largest target markets, namely, China, Hong Kong, Taiwan and Thailand. The shares of Boyaa Interactive International Limited are listed and traded on the Hong Kong Stock Exchange. Credit Suisse acted as the sole sponsor and the sole global coordinator; and Credit Suisse and China Renaissance acted as the joint lead managers and joint bookrunners.
Tags: Simpson Thacher & Bartlett LLP | Beijing
International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$546m global offering and listing of Bank of Chongqing on the Hong Kong Stock Exchange which took place today.
Tags: Freshfields Bruckhaus Deringer LLP | Beijing
International law firm Simmons & Simmons has appointed Joseph Chu as a Dispute Resolution partner in its Beijing office.
Tags: Simmons & Simmons | Beijing