EXPERIENCE

Bonnie’s representative experience includes advising:

M&A

• A consortium led by Starwood Capital Group, Sixth Street, and SSW Partners on the proposed US$7.1 billion take-private of ESR Group Limited by way of a scheme of arrangement from the Hong Kong Stock Exchange. This deal represents the largest privatization from the HKEX since 2021
• China Jinmao in its privatization by way of a scheme of arrangement of China VAST, one of the pioneer service providers in the planning, development and operation of large-scale industrial towns in China
• Baring Private Equity Asia on its partial exit from Indian IT healthcare services company CitiusTech Healthcare Technology
• Charoen Pokphand Foods Public Company Limited in its US$900 million privatisation of C.P. Pokphand Co. Ltd, a Hong Kong listed company, by way of a scheme of arrangement
• MBK Partners Fund V, L.P. on the US$950 million acquisition of ocean parks located across China from Hong Kong-listed hospitality group Haichang Ocean Park Holdings Ltd.
• TPG and Northstar on the leveraged US$236 million acquisition of an 80% stake in Greenfields Dairy Singapore, a Southeast Asia consumer dairy operation owned by Japfa Ltd., a Singapore-listed agribusiness conglomerate
• Tencent on its US$1.38 billion take-private of the HKSE-listed Leyou Technologies, an international game development and distribution company, by way of a scheme of arrangement
• The buyer consortium led by Tencent and Hammer Capital on the ongoing US$1.1 billion privatization of Bitauto Holdings Limited, a US-listed internet content and marketing service provider focusing on the automobile industry, and Tencent as a joint offeror on the consequential mandatory general offer for Yixin Group Limited, Bitauto’s Hong Kong-listed subsidiary, as triggered by the Bitauto privatization
• The Carlyle Group on the KRW 2.9 trillion disposal of its Korean portfolio company ADT Caps to SK Telecom and Macquarie Infrastructure and Real Assets
• Carlyle Asia Partners on the CNY 3.6 billion sale of its controlling stake in Crystal Orange Hotel Holdings, a China-based hotel operator, to China Lodging Group
• Sinochem Hong Kong (Group) Company Limited and China Jinmao Holdings Group Limited on the introduction of Ping An Life Insurance Company of China, Ltd. (through Ping An of China Asset Management (Hong Kong) Company Limited) as a strategic investor in China Jinmao, through a placing of existing shares and subscription of new shares, respectively, with a total transaction size of HK$9.49 billion
• Haier Electronics on its acquisition of a controlling stake in Ozner Water, a Hong Kong listed company, and obtaining a whitewash waiver
• China Traditional Chinese Medicine Holdings Co. Limited on the placement of 604.3 million shares to Ping An Life Insurance Company of China for HK$2.68 billion
• China Life Investment Holding Co., Ltd. on its acquisition of a majority stake in 10 Upper Bank Street, Canary Wharf, London, which is one of Britain’s biggest office towers; it is the first European property investment by China Life

Capital Markets

• ESR Cayman Limited on its initial public offering and listing on the Main Board of Hong Kong Stock Exchange
• Everbright Securities Company Limited on its HK$8.29 billion initial public offering of H Shares on the Hong Kong Stock Exchange; Everbright Securities is a leading full-service securities group in China and an A shares company listed on the Shanghai Stock Exchange

Public Company Representation

Bonnie has represented the following Hong Kong-listed companies in their post-listing matters:

• China Life Insurance Company Limited
• China Jinmao Holdings Group Limited (formerly Franshion Properties (China) Limited)
• Huishang Bank Corporation Limited
• New Century REIT