Paul Hastings Advises Arrangers on Pioneering China LBO
Hong Kong (October 19, 2006) - Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, represented ABN AMRO Bank (ABN) and The Royal Bank of Scotland (RBS), the lead arrangers of financing for the leveraged buyout of Plantation Timber Products (PTP) by funds advised by CVC Asia Pacific Limited.
PTP, a Chinese timber business, was previously owned by Carter Holt Harvey, a leading New Zealand wood products company.
Commenting on the deal, Brett King, leverage finance partner at Paul Hastings, said, "We are delighted to have represented ABN and RBS on this ground-breaking transaction. The deal is particularly significant because it is one of the first true management buyouts to be completed in the People's Republic of China. Within the next five years, China is expected to become the largest market for leveraged finance transactions in Asia, and deals like PTP are leading the way."
The transaction further bolsters Paul Hastings' expertise in structuring some of the most innovative and award-winning leveraged finance transactions in the Asia-Pacific Region.
The Paul Hastings team was led by partners Brett King and Alex Regan and associates Jeremy Low, Lucille Kiang, and Steven DeGracia.
Paul Hastings Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,100 attorneys in 17 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.