14 December, 2015
Kirkland & Ellis is acting for Shanghai-listed China Grand Automotive Co. Limited (SSE: 600297) in its proposed US$1.5 billion acquisition of a maximum of 75% of the issued share capital of Baoxin Auto Group Limited (HKSE: 1293) by way of a pre-conditional voluntary cash partial offer, announced on December 11, 2015.
The transaction constitutes a major asset restructuring of China Grand Automotive pursuant to the rules and regulations issued by the China Securities Regulatory Commission and the Shanghai Stock Exchange, which added a technical complexity due to the differences in disclosure requirements between the Shanghai and Hong Kong stock exchanges.
The Kirkland team is led by Hong Kong-based corporate partners Nicholas Norris and Joey Chau.
