8 July, 2016
Stephenson Harwood has advised Hong Kong listed company Strong Petrochemical Holdings Limited on its disposal of the Entire Share Capital of Strong Petrochemical (Asia) Company Limited to Alpha Creation Group Limited (“Alpha Creation”), an independent third party at the value of approximately US$20.3 million. As one or more of the applicable percentage ratios in respect of the Sale and Purchase Agreement and the transaction contemplated thereunder were more than 5% but less than 25%, the transaction constituted a discloseable transaction under Chapter 14 of the Listing Rules.
Strait Petrochemical Holdings Limited (“Strait Petrochemical”) is an indirect wholly-owned subsidiary of Strong Petrochemical whilst Strong Petrochemical (Asia) Company Limited (“Strong Petrochemical (Asia)) is a direct wholly-owned subsidiary of Strait Petrochemical. Corporate Partner Eugene Lai led the transaction assisted by Senior Associate Ivy Wong, Associates Sherman Wong and Annie Mak.
