1 June 2021
Baker McKnzie advised China Evergrande Group (the "Company"), a company listed on the Hong Kong Stock Exchange (stock code: 3333.HK) on its disposal of 2.66% of the issued shares in its subsidiary, China Evergrande New Energy Vehicle Group Limited ("Evergrande Vehicle") for approximately HKD 10.6 billion.
The sale of the shares will help diversifying the shareholders base of Evergrande Vehicle.
The Baker McKenzie team was led by Partner Christina Lee, with support from Special Counsel Brian Wong and Associate Stephanie Mak, all based in Hong Kong.
"We are pleased to have been able to assist our long-term client on this strategically important transaction," Christina Lee said.
Baker McKenzie has advised China Evergrande on a number of other significant transactions, most recently including Evergrande Vehicle's HKD 26 billion shares issuance, HengTen Networks Group Limited's HKD 7.2 billion acquisition of Virtual Cinema Entertainment Limited, Evergrande Vehicle's HKD 4 billion top-up placing and Evergrande Vehicle's global investments in electric vehicle-related businesses.
Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in Hong Kong and other major financial centers. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insight on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades.
For further information, please contact:
Jamie Kar, Senior Communication Manager, Baker & McKenzie
