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Freshfields advises Boyu on its voluntary general offer for Jinke Smart Services Group Co., Ltd.

Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Thematic Bridge Investment Pte. Ltd. (‘Offeror’), an investment vehicle of Boyu Group, LLC (‘Boyu’), on its voluntary conditional general cash offer for all of the offer shares in Jinke Smart Services Group Co., Ltd. (‘Jinke Smart’), one of China’s leading property management services companies listed on the Hong Kong Stock Exchange.

Earlier, the firm had acted for Boyu in connection with a case before Hong Kong’s Takeovers and Mergers Panel (‘Panel’) on whether a mandatory general offer (‘MGO’) would be triggered if Boyu becomes the single largest shareholder of Jinke Smart following a forced disposal of shares owned by the current controlling shareholder of Jinke Smart as a result of enforcement actions by its creditors. We have successfully argued and the Panel agreed that a special waiver from the MGO obligation would be appropriate for so long as Boyu or any of its concert parties does not acquire any further voting rights in Jinke Smart at or after the forced disposal.

The Freshfields team advising on the transaction and the Panel case was led by partner Philip Li, with support from partner Robert Ashworth and associates Clara Chang, Kelly Huang, Vincent Ko and Lingling Wang.


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