Baker McKenzie is advising Chong Hing Bank Limited ("Chong Hing Bank") in relation to a privatization proposal by its parent company, Yue Xiu Enterprises (Holdings) Limited ("Yue Xiu Enterprises"), by way of a scheme of arrangement.

The transaction is subject to shareholders' approval and sanction of the Hong Kong Court, and the delisting of the shares of Chong Hing Bank will take place when all conditions are satisfied.

Chong Hing Bank is an authorized institution under the Hong Kong Banking Ordinance and offers a full range of commercial banking and financial products and services to individual and corporate customers in Hong Kong, Macau and the Mainland, including lending, trade, finance, cash management, cross-border business solutions and financial market products. It was listed on the Main Board of the Hong Kong Stock Exchange in 1994.

Yue Xiu Enterprises is a wholly-owned subsidiary of Guangzhou Yue Xiu Holdings Limited and is principally engaged in three core businesses: real estate, finance and securities, and transport and infrastructure. Guangzhou Yue Xiu Holdings Limited is beneficially wholly-owned by the Guangzhou Municipal People's Government of the PRC.

The Baker McKenzie team is led by Partner Dorothea Koo and by Special Counsel Betty Wong and supported by Partner Kwun Yee Cheung, Special Counsel Janice Wong and Associates Christine Yau, Bonnie Lau and Ray Chan, all of whom are based in the Hong Kong office.

Commenting on the deal, Dorothea Koo said, "We advised Yue Xiu Enterprises on the acquisition of a 75% interest in Chong Hing Bank by way of partial offer in 2013. We are very pleased to be involved again in the proposed privatization of Chong Hing Bank by Yue Xiu Enterprises, leveraging on our combined strength in public M&A and schemes of arrangement."

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 fund-raising 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 and court applications. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades.

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