The shares were sold to Lee & Man Paper Chairman Lee Man Chun Raymond and CEO Lee Man Bun for a total consideration of HK$1.27 billion. Nippon Paper remains a shareholder of the company with an 8.62% stake in Lee & Man Paper.

In connection with the reduction of Nippon Paper’s stake in Lee & Man Paper, a shareholders agreement entered into in June 2010 between Nippon Paper and Gold Best, a wholly-owned subsidiary of Lee & Man Paper, has been terminated, together with any formal business collaboration agreements involving Lee & Man Paper.

The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, assisted by Associate Maggie Kwok. Linklaters was the onshore legal adviser to Nippon Papers.

Nippon Paper Group is one of the largest pulp and paper manufacturers in Japan with a diverse range of products, including paper, paperboard, household paper products, and specialty and high-performance products.

For further information please contact Queenie Ngan.

Share
Twitter LinkedIn Email Save as PDF
More Deals
20 Jul 2021 | Deals

Appleby acts as Cayman counsel on Black Spade Acquisition Co's USD150 Million SPAC IPO

Black Spade Acquisition Co is sponsored by Black Spade Sponsor LLC, an affiliate of Black Spade Capi...

David Bulley
David Bulley
Contributors: Dean Bennett, Alejandra Gonzalez Saucedo
16 Jul 2021 | Deals

Appleby’s Hong Kong office continues to act as Bermuda and BVI counsel for China Oil and Gas Group Limited on its high value senior notes     

The notes issuance is the fifth senior notes issuance by the Company since 2013.

Judy Lee
Judy Lee
Contributors: Paul Cheuk, Minnie Choi
6 Jul 2021 | Deals

Appleby’s Hong Kong office acts as Cayman and BVI counsel to Datang Group Holdings Limited on its issuance of USD300 million 12.50% senior notes due 2022

It was second time the Appleby team being instructed by Datang after advising on its HKD1.48 billion...

Chris Cheng
Chris Cheng
Contributors: Kaile Yang
29 Jun 2021 | Deals

Appleby's Hong Kong office acts as Bermuda counsel to Zhuhai Holdings Investment Group Limited in relation to its privatization by way of Bermuda court sanctioned scheme of arrangement

The Scheme provides that each Scheme Shareholder is entitled to receive the cancellation price of HK...

Chris Cheng
Chris Cheng
Contributors: Kaile Yang
10 Jun 2021 | Deals

Appleby’s Hong Kong office acts as Cayman Islands counsel for New Hope Service Holdings Limited on its HKD 874 million listing on the Main Board of the Hong Kong Stock Exchange

Hong Kong acted as Cayman counsel for New Hope Service Holdings Limited on its listing on the Main B...

Judy Lee
Judy Lee
Contributors: Minnie Choi
25 May 2021 | Deals

Appleby’s Hong Kong office acts as Cayman Islands and BVI counsel for Shenzhen YHLO Biotech Co., Ltd. on its listing on the STAR Market of the Shanghai Stock Exchange

Appleby’s Hong Kong office acted as Cayman Islands and BVI counsel to Shenzhen YHLO Biotech Co., L...

Vincent Chan
Vincent Chan
24 May 2021 | Deals

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions.

David Bulley
David Bulley
Contributors: Alejandra Gonzalez Saucedo
18 May 2021 | Deals

Appleby acts as Seychelles, Cayman Islands and Jersey counsel for Allied Gold Corp’s USD80 million acquisition of Agbaou Mine from Endeavour Mining

Appleby acts as Seychelles, Cayman Islands and Jersey counsel for Allied Gold Corp’s USD80 million...

Malcolm Moller
Malcolm Moller
Contributors: Andrew Weaver, Vincent Chan, Karishma Beegoo, Daniel Healy
7 May 2021 | Deals

Appleby’s Hong Kong office continues to act as BVI and Cayman Islands counsel for Times China Holdings Limited on its issuance of USD200 million 5.3% senior notes

Appleby’s Hong Kong office continues to act for Times China Holdings Limited.

Chris Cheng
Chris Cheng
Contributors: Kaile Yang, Connie Wu
28 Apr 2021 | Deals

Appleby advise Kwong Luen Engineering Holdings Limited on its HKD135 million listing on the Main Board of the Hong Kong Stock Exchange

Appleby advise Kwong Luen Engineering Holdings Limited on its HKD135 million listing on the Main Boa...

Judy Lee
Judy Lee
Contributors: Minnie Choi