Proposed Privatization of Inner Mongolia Energy Engineering Co., Ltd.
April 27, 2021
Hong Kong – Paul Hastings, a leading global law firm, announced today that the firm has advised Inner Mongolia Energy Engineering (Group) Co., Ltd. (“IMG”) on its proposed voluntary conditional cash offer to acquire all of the issued H shares of Inner Mongolia Energy Engineering Co., Ltd. (“IME”) at the maximum consideration of approximately HK$1.48 billion in accordance with the Hong Kong Code on Takeovers and Mergers, and in connection with its proposed merger by absorption of IME in accordance with Article 172 of the PRC Company Law and other applicable PRC Laws. Upon the voluntary conditional cash offer becoming unconditional, IME will make an application for the voluntary withdrawal of the listing of the H shares on the Hong Kong Stock Exchange.
IME became listed on the Main Board of the Hong Kong Stock Exchange in 2017, which provides a comprehensive range of power industry solutions, including survey, design and consultancy, construction contracting and maintenance and overhaul services to serve the full life-cycle of power projects and the entire value chain of the power engineering industry.
The Paul Hastings team was led by Raymond Li, global partner and chair of Greater China, with support from associates Crystal Liu and Samson Tong, senior legal manager Alfred Yang and trainee solicitor Helen Cheung.
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