The privatisation was approved at the meeting of independent shareholders on September 23, 2019 with the Scheme becoming effective on October 24, 2019.
China Automation Group is a China-based company principally engaged in: (i) the provision of safety and critical control systems and control valves specialized for petrochemical industries, along with related maintenance and engineering services; and (ii) hospital business in Suzhou, the PRC.
The cross-jurisdictional Appleby team was led by Cayman Islands based partner David Bulley with a Hong Kong team comprising of partners Eliot Simpson and Paul Cheuk and associate Victoria King who provided advice on the Scheme documentation and process. The team were also assisted by Cayman partner Tony Heaver-Wren who led on the Cayman court process and appeared before Justice Parker at both the first hearing and sanction hearing of the Scheme in the Grand Court of the Cayman Islands.
Commenting on the transaction, David said “This transaction highlights the cross-jurisdictional expertise of Appleby and the coordinated legal services we seamlessly provide between our global offices, which are vital for complex mandates in the People’s Republic of China and Hong Kong. We continue to see clients move to Appleby for this offering and we look forward to continuing to assist our clients and referrers in these important markets.”