Chinese metallic wire manufacturer Fushi Copperweld Inc. announced that is has agreed to be taken private by an investment group led by its co-chief executive, Li Fu, and private equity firm Abax Global Capital (Hong Kong) Ltd. for $364 million. The per share price of $9.50 represents a 21 percent premium on the stock’s closing price on June 28.
Global law firm Weil, Gotshal & Manges LLP represented Abax Global Capital on the transaction, which is expected to close in the fourth quarter of 2012 pending shareholder approval. Based in Hong Kong, Abax manages a multi-strategy Asian investment platform.
Weil’s team on the transaction was led by Akiko Mikumo, Managing Partner for Asia, and included Banking and Finance partner Soo-Jin Shim; Corporate associates Daniel Ferguson, Dianna Lee, Haibin Liu, William Welty, and Lei Yu; and Tax partner Jared Rusman and associate R. Todd Hatcher.
