7 November, 2016
Deacons is advising Luen Thai Holdings Limited in relation to a HK$1.49 billion pre-conditional voluntary cash general offer for all of its issued shares by Shangtex Limited.
Luen Thai Holdings, listed on the Main Board of the Hong Kong Stock Exchange, is a consumer goods supply chain group, global industry consolidator, and multi-product expert in apparel and accessories.
Shangtex Limited, a wholly-owned subsidiary of Shangtex Holding Co., Ltd, is a leading textile manufacturing and trading business in China.
Luen Thai also announced a US$110 million disposal of its non-core businesses in a major connected transaction. Upon completion of the disposal, Luen Thai will be principally engaged in apparel and accessories manufacturing.
The Deacons’ team is led by partner Ronny Chow, head of the corporate finance practice group. He advised Luen Thai on its IPO listing in Hong Kong in 2004.
