Baker McKenzie advised Luk Fook Holdings (International) Limited (Stock Code: 0590), in connection with the acquisition by its wholly-owned subsidiary of 50.43% total issued shares in Hong Kong Resources Holdings Company Limited ("Hong Kong Resources") (Stock Code: 2882) and the subsequent unconditional mandatory cash offers to acquire all the issued shares in Hong Kong Resources and cancel all outstanding options of Hong Kong Resources for a total consideration of approximately HKD 200.7 million.
Hong Kong Resources principally engages in the retail sales and franchising operations for gold and jewellery products in Hong Kong SAR and Mainland China (including the "3DG Jewellery" brand), as well as in the wholesaling and contracting operations of gold and jewellery products in Mainland China.
The transaction enables Luk Fook to optimize its business structure and consolidate its control of the "3DG Jewellery" brand and business. At the same time, Hong Kong Resources benefits from the financial strength and expertise of Luk Fook in the jewellery market.
The Baker McKenzie team was led by Capital Markets Partner Christina Lee, with support from Special Counsel Bonnie Lau and Associates George Lam and Michael Chau.
Commenting on the deal, Christina Lee said, "We are pleased to have advised Luk Fook on this significant transaction, which not only further strengthens and optimizes the company’s core business, but also leads to greater synergies for both parties. This deal also demonstrates our capability in complex public mergers and acquisitions transactions."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fundraising activities in different jurisdictions.
With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
Hong Kong Resources principally engages in the retail sales and franchising operations for gold and jewellery products in Hong Kong SAR and Mainland China (including the "3DG Jewellery" brand), as well as in the wholesaling and contracting operations of gold and jewellery products in Mainland China.
The transaction enables Luk Fook to optimize its business structure and consolidate its control of the "3DG Jewellery" brand and business. At the same time, Hong Kong Resources benefits from the financial strength and expertise of Luk Fook in the jewellery market.
The Baker McKenzie team was led by Capital Markets Partner Christina Lee, with support from Special Counsel Bonnie Lau and Associates George Lam and Michael Chau.
Commenting on the deal, Christina Lee said, "We are pleased to have advised Luk Fook on this significant transaction, which not only further strengthens and optimizes the company’s core business, but also leads to greater synergies for both parties. This deal also demonstrates our capability in complex public mergers and acquisitions transactions."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fundraising activities in different jurisdictions.
With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
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