Freshfields advises Petrus HK Co Limited on proposed privatisation of Hopewell Holdings LimitedFreshfields Bruckhaus Deringer (‘Freshfields’) has advised Petrus HK Co Limited (a company majority owned and controlled by Sir Gordon Ying Sheung Wu and Lady Wu Ivy Sau Ping Kwok), as offeror, on its proposed privatisation of Hopewell Holdings Limited by way of a Hong Kong scheme of arrangement.
Upon the scheme of arrangement becoming effective, Petrus HK Co Limited and a consortium of individuals, will together own 100 per cent of Hopewell Holdings Limited. The total offer price is approximately HK$21.3bn (approximately US$2.7bn) in cash, to be financed through new credit facilities. The proposed privatisation is subject to, amongst other things, shareholders’ approval and sanction by the Hong Kong Court.
The principal activities of Hopewell Holdings Limited and its subsidiaries are investments in power plants; property development and investment; property management; hotel ownership and management; restaurant operations; and food catering.
The Freshfields team advising on the deal was led by partners Edward Freeman and Daniel French, together with partner and China Chairman Teresa Ko.
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