Posted on February 23, 2011 at 7:02 PM
Clifford Chance is advising HKSE and SGX listed Shangri-La Asia in its 1 for 12 rights issue raising approximately HK$4.7 billion (US$603m). The rights issue was oversubscribed, with applications for approximately 1.37 times the shares available. The firm’s team was led by Roger Denny.
Paul, Hastings, Janofsky & Walker advised Publicis Groupe (Publicis) in its acquisition of Eastwei Relations, one of China’s first independent public relations and strategic communications consultancies. Publicis is the third largest advertising and communications group in the world and a leader in digital and interactive communication. Partners David Wang and Lesli Ligorner led the transaction.
Weil, Gotshal & Manges advised GROHE-Group, a global premium brand for sanitary fittings, in the voluntary public tender offer of its wholly-owned subsidiary Grohe Asia AG to all shareholders of Joyou AG. The transaction represents the first takeover offer of a German enterprise for a Chinese group of companies. The offer price amounts to €13.50 (US$18.33) in cash per share. At the time of the announcement of the tender offer, Grohe Asia AG has already secured irrevocable commitments as well as other undertakings from Joyou shareholders safeguarding voting rights of at least 30 per cent in Joyou AG upon completion of the tender offer. The firm’s advisory team was led by Beijing counsel Yan Yang and partners Henry Ong, Gerhard Schmidt, Heiner Drueke and Christian Tappeiner.
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