Paul Hastings Represents Nan Yue Logistics on Significant M&A Transaction
Hong Kong (January 8, 2013) - Paul Hastings, a leading global law firm, announced today that it represented Guangdong Nan Yue Logistics Company Limited (Nan Yue Logistics), a leading expressway and integrated logistics services provider in Chinas Guangdong Province, on its acquisition of the entire interest in Guangdong Vehicles Transportation Group Company Limited (Guangdong Vehicles Transportation) from Guangdong Provincial Communication Group Company Limited (GCGC). Guangdong Vehicles Transportation is now a wholly-owned subsidiary of Nan Yue Logistics.
This transaction involved a number of complex elements including a very substantial acquisition, a major disposal transaction and a connected transaction under asset swap arrangement involving the issue of perpetual subordinated convertible securities.
The asset swap arrangement between Nan Yue Logistics and GCGC allowed for Nan Yue Logistics to acquire the entire interest in Guangdong Vehicles Transportation at a total consideration of approximately US$78 million. Nan Yue Logistics paid for part of the consideration by transferring its interest in the assets relating to its international trade business and transportation intelligence business to GCGC, and by paying the remaining consideration through the issuance of perpetual subordinate convertible securities.
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