14 December, 2015
Cogobuy Group has entered into an agreement to acquire Shenzhen Comtech Small Loan Co. Ltd., a company licensed to provide small loans, from Comtech Communications Technology (Shenzhen) Co. Ltd., an affiliate of Cogobuy's chairman, Mr. Jeffrey Kang, for a consideration of HK$375 million (approximately US$47.4 million). In connection with the transaction, Cogobuy Group has entered into a series of agreements pursuant to which it will provide a range of services to the small loan company pending completion of the acquisition. The transaction was announced on December 14, 2015.
Skadden is representing Cogobuy. The Skadden team includes partner Christopher Betts, associate Anthony Pang and trainee solicitor Matthew Leung.