Paul Hastings Advises China Everbright on US$960 Million Environmental Water Business Disposal, Acquisition and Reverse Takeover
Hong Kong (June 3, 2014) - Paul Hastings, a leading global law firm, announced today that the firm advised China Everbright International Limited (“China Everbright”) on the approximately US$960 million injection of the entire share capital of its wholly-owned subsidiary China Everbright Water Investments Limited into Singapore-listed HanKore Environment Tech Group Ltd. (“HanKore”) in exchange for a controlling stake of approximately 78% of HanKore’s shares. The disposal and acquisition will result in a reverse takeover of HanKore in Singapore.
China Everbright is a Hong Kong-listed company focusing on the development of environmental protection businesses. China Everbright Water Investments Limited and its subsidiaries are principally engaged in the environmental water business and operate a portfolio of large scale and diversified waste water treatment projects in the PRC.
Paul Hastings has advised China Everbright on a number of its transactions over the years including on various loan facilities, top-up placements and joint ventures.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.