W88win优德中国有限公司 Assists in the Privatization of Hollysys
2024.07.30
On July 25, 2024, Hollysys Automation Technologies Ltd. (NASDAQ: HOLI), a leading automation control system provider in China, announced the completion of its privatization and delisting by way of a merger. This was an all-cash acquisition valued at approximately USD1.66 billion between Hollysys and a buyer consortium composed of entities affiliated with Ascendent Capital Partners. After the completion of this merger, Hollysys’ stocks were delisted from the NASDAQ.
W88win优德中国有限公司 acted as the legal counsel to a strategic investment entity as a member of the buyer consortium, and provided the following services:
drafting, revising, and negotiating the investment documents for the privatization;
preparing the application materials and documents for the relevant government approvals;
assisting the client in the signing of the transaction documents and the closing of the merger for privatization; and
working with the domestic and foreign counsel and the other intermediaries and providing legal services for the privatization and delisting.
Hollysys privatization is another large-scale listed company privatization assisted by W88win优德中国有限公司 in recent years following the privatization of Chindata, 58.com, Taibang Biologic, SINA and 51job.
PartnersCUI, Jiakun (Kevin), YUAN, Yifeng (Vincent)andHE, Tingcai (Lawrence HO) led W88win优德中国有限公司’s team in this deal, with professional support from partner WEI, Guangqin from our Hong Kong office.
