Leading international law firm Clifford Chance has advised Macquarie Everbright Greater China Infrastructure Fund L.P. (MEGCIF) on its RMB271.25 million investment in a wholly-owned subsidiary of Singapore Stock Exchange listed Hengyang Petrochemical Logistics Limited (Hengyang).
Hengyang is a leading logistics service provider primarily engaged in the storage and transportation of liquid petrochemicals in China. The proceeds raised by Hengyang will be used to fund the Group’s business expansion along the Yangtze River and corporate restructuring exercise, including a buyback of a 40% equity interest in its two subsidiaries in Wuhan and Chongqing.
Following completion of the investment, MECGIF will own 35% of the issued share capital of Hengyang Holding Pte Ltd (HHPL), the 100% owner of the Group’s subsidiaries after the planned corporate restructuring.
Corporate partner Lee Taylor led on this deal and was supported by senior associate Andrew Heng.
