International law firm Freshfields Bruckhaus Deringer has advised Zhongsheng Group Holdings Limited (“Zhongsheng Group”) in relation to the proposed US$728m strategic investment by Jardine Strategic Holdings Limited (“Jardine Strategic”).
Jardine Strategic’s proposed investment in Zhongsheng Group, a Hong Kong listed automobile dealership group, consists of a combination of equity and convertible bonds. Upon completion of the transaction and assuming full conversion of the convertible bonds, Jardine Strategic will have a 20% stake in Zhongsheng Group’s enlarged share capital on issue.
Zhongsheng Group is a leading automobile dealership group in Mainland China with more than US$8bn of annual revenue. Zhongsheng Group’s product portfolio includes Mercedes-Benz, Lexus, Porsche, Audi, Lamborghini and Land Rover in the luxury segment and Toyota, Nissan and Honda in the mid to high end segment. Zhongsheng Group currently operates more than 160 dealerships across over 60 cities in China.
The Freshfields team was led by Beijing corporate partner Richard Wang and Hong Kong finance counsel Bing Guan.
