The privatisation of Hollysys Automation Technologies, Ltd. was completed by way of a BVI statutory merger which became effective on 25 July 2024 with an all-cash acquisition valued at approximately USD1.66Bn.
This complex cross-jurisdictional and high-profile transaction was led by Hong Kong and Shanghai Managing Partner David Bulley and Alejandra Gonzalez Saucedo as lead associate, with members from Appleby’s Hong Kong, Shanghai and British Virgin Islands offices advising on all offshore aspects of the deal, including Hannah Yao, Mandy Qi, Stephanie Wang and Andrew Jowett providing advice on the corporate issues, M&A structuring, acquisition options and the merger process, Lily Miao and Fanny Or advising on the acquisition financing, Eason Huang and Yan Zeng advising on fund issues and Andrew Willins, Michael Makridakis, George Mallis and John McCarroll SC advising on various litigation issues throughout the process.
Commenting on the matter David said “This transaction once again highlights the strength and expertise of our Hong Kong and Shanghai offices and wider teams in handling all offshore aspects in complex and high-profile transactions, and our leading position in this space in Asia with clients continuing to use Appleby due to our market leading cross-jurisdictional teams and expertise. With my team having now advised on over USD190,000,000,000 (RMB 1,350,000,000,000) of PE / M&A deals in the last few years it is clear to see that clients turn to Appleby because they appreciate our senior led and highly experienced deal teams when undertaking large and complex transactions”
