Appleby advised on the Carlyle Group's Investment in Ant International
Leading offshore law firm Appleby acted as Cayman Islands counsel to The Carlyle Group on its subscription of Series C preference shares issued by Ant International Co., Limited, a Cayman Islands company and a wholly-owned subsidiary of Ant Small and Micro Financial Services Group Co., Ltd. (Ant Financial). This deal forms part of Ant Financial’s circa USD 14 billion equity financing programme. Since its establishment in 2014, Ant Financial has formed international partnerships with global strategic partners to serve local users in those markets, and serve Chinese travellers overseas by connecting Alipay with online and offline merchants in popular destinations.
The deal was led by Partner Nicholas Davies and Counsel Vincent Chan, both based in Appleby’s Hong Kong office.
Commenting on the matter, Nicholas said “We are delighted to have advised the Carlyle Group on the Cayman law aspects of this high-profile FinTech deal. As a leading global offshore law firm with full service capability on the ground in Hong Kong and in each of our jurisdictional offices, we take great pride in assisting our clients with their key transactions wherever in the world they might need us.”