Linklaters indulges in China shopping spree

Linklaters’ China team finished 2006 with a bang by closing five deals worth more than £2.4bn in six weeks.

The firm’s spree began with a US$3.06bn (£1.57bn) consortium acquisition of Guangdong Development Bank. Linklaters acted on behalf Citigroup.

Linklaters followed that up by advising US private equity firm Carlyle Group and Hong Kong-based lender Dah Sing Bank when they snapped up a 24.99 per cent stake in Chongqing City Commercial Bank for US$128m (£66m).

It was a merry Christmas for Banco Bilbao Vizcaya Argentaria (BBVA) of Spain, who were advised by the firm on both its €501m (£339m) acquisition of a 5 per cent stake in China CITIC Bank and on its €488m (£330m) acquisition of a 15 per cent stake in Hong Kong-listed CITIC International Financial Holdings, making a total investment of €989m (£669m).

Linklaters also advised Diageo Highlands, a subsidiary of drink manufacturers Diageo, on its acquisition of a 43 per cent equity interest in Sichuan Chengdu Quanxing Group Co., a leading company in the Chinese white spirit market.

And finally, Linklaters advised Home Depot Asia, a Mauritius investment vehicle, as purchaser on the acquisition of a 100% equity interest in Homeworld, a chain of DIY stores.