NEWS
Paul Hastings Advises China Everbright on US$960 Million Environmental Water Business Disposal, Acquisition and Reverse Takeover
June 03, 2014
Hong Kong (June 3, 2014) - Paul Hastings, a leading global law firm, announced today that the firm advised China Everbright International Limited (“China Everbright”) on the approximately US$960 million injection of the entire share capital of its wholly-owned subsidiary China Everbright Water Investments Limited into Singapore-listed HanKore Environment Tech Group Ltd. (“HanKore”) in exchange for a controlling stake of approximately 78% of HanKore’s shares. The disposal and acquisition will result in a reverse takeover of HanKore in Singapore.
China Everbright is a Hong Kong-listed company focusing on the development of environmental protection businesses. China Everbright Water Investments Limited and its subsidiaries are principally engaged in the environmental water business and operate a portfolio of large scale and diversified waste water treatment projects in the PRC.
Paul Hastings has advised China Everbright on a number of its transactions over the years including on various loan facilities, top-up placements and joint ventures.
The Paul Hastings team was led by partners Vivian Lam and Catherine Tsang with support from associates Celia Chau and May Lun.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.
Practice Areas
Securities and Capital Markets
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