Appleby advises on Hong Kong-listed Guoco Group's $1.1bn privatisation
Appleby has acted as Bermuda counsel for GuoLine Overseas Limited, a wholly-owned indirect subsidiary of Hong Leong Group, in relation to its proposed voluntary cash offer to privatise Guoco for $1.1bn.
GuoLine Overseas intends to finance the cash required for the offer from a combination of debt financing provided by Standard Chartered Bank, which also acts as financial adviser to GuoLine Overseas, and internal cash resources.
The deal marks the second-largest privatisation of a Hong Kong-listed company in more than a decade and will provide Hong Leong Group with greater control to support the future development of Guoco.
Appleby’s team was led by John Melia, corporate partner in the firm’s Hong Kong office, assisted by associate Vincent Chan.
Banking and asset finance partner Jeffrey Kirk acted on behalf of Standard Chartered Bank on the financing side of the deal.
News from Appleby
News from The Lawyer
Briefings from Appleby
Board members of charitable and philanthropic organisations must ensure proper procedures and policies are in place to manage resources effectively.
Expert Guides editor Chris Allen spoke to Appleby partner Brad Adderley about the role Bermuda has played and is likely to play in the global insurance industry.