Baker McKenzie recently advised CMB International Capital Limited ("CMBI Capital") and CMB International Finance Limited ("CMB Finance") in relation to the privatization of Bestway Global Holding Inc. ("Bestway Global") by way of a scheme of arrangement pursuant to the Companies Act of the Cayman Islands. The cash consideration paid by the offeror was approximately HKD 1.029 billion. The shares of Bestway Global were delisted from the Hong Kong Stock Exchange on 12 October 2021.
CMBI Capital is the financial adviser to the offeror, Great Success Enterprises Holdings Limited. CMB International Finance is a financier to the offeror.
Bestway Global principally engages in the manufacturing and sales of high quality and innovative PVC sporting and leisure products in Europe, North America, Asia Pacific (including PRC) and other global markets.
Baker McKenzie fielded a multidisciplinary team for the deal that included:
Representing CMBI Capital: partners Christina Lee (Capital Markets/Public M&A), Kenneth Ching (Finance), special counsel Brian Wong (Capital Markets/Public M&A) and associate Daisy Chen.
Representing CMB Finance: partner Simon Leung (Finance), Gerry Wong (Finance) and associates Xiaoshuang Cui and Ryan Li.
Commenting on the deal, Christina Lee said, "We are pleased to be able to bring our strong public M&A, capital markets and finance capabilities to the table and bring this deal to fruition for our clients."
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 and court applications. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration and block trades.