DLA Piper advises China Shipping Terminal Developments on acquisition
DLA Piper has advised China Shipping Terminal Developments (Hong Kong), a subsidiary of China Shipping Group, on its acquisition of approximately 24 per cent of issued shares in APM Terminals Zeebrugge, a company incorporated in Belgium from its major shareholder APM Terminals (a subsidiary of A P Moller Maersk).
Zeebrugge is the fifth busiest port in northern Europe and APM Terminals handles about 17 per cent of its traffic. China Shipping Terminal is a member of China Shipping Group, which is one of the largest shipping companies in the world.
This is the first investment by China Shipping Terminal into Europe. This deal required special expertise on state-owned enterprise, outbound investment and cross-border mergers and acquisitions. The deal was successfully closed in January 2014.
The DLA Piper team was led by Roy Chan and formed of colleagues from DLA Piper in Shanghai, Brussels and Hong Kong.
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