Cadwalader, Wickersham & Taft LLP, a leading international law firm to global corporations and financial institutions, successfully advised USUM Investment Group Hong Kong Limited (USUM), the Hong Kong-based investment management arm of a company headquartered in Chongqing, China, on its approximately HK$1.8 billion (US$232 million) acquisition of the Chiho-Tiande Group Limited, a Hong Kong-listed recycling company. The transaction closed on 15 February 2016.
The transaction involved an unconditional mandatory general cash offer made by China Galaxy International Securities (Hong Kong) Co., Limited on behalf of USUM to acquire all of the issued shares and outstanding convertible bonds of the Chiho-Tiande Group Limited.
The Hong Kong-based Cadwalader team, which advised USUM on Hong Kong law, was led by corporate partners Michael Liu and Stephen Chan, and included counsel Olivia Wong, special counsel Terris Tang and associate Denise Tsui.
“In the last twelve months or so, we have advised on over five transactions involving the Hong Kong Code on Takeovers and Mergers,” said lead partner Michael Liu. “Bringing the Chiho-Tiande transaction to a successful conclusion is a real achievement for us and for our client.”
“This is a very interest transaction involving quite a lot of structuring, and we are extremely happy to be able to help our client achieve its goals within a very tight timeline,” said co-lead partner Stephen Chan.
Source: www.cadwalader.com
