Hong Kong M&A Team Closes Two Deals in One Day

PHILADELPHIA, Jan. 12 -- Dechert, a law firm, issued the following news release:

Dechert advised Mr. Cheung Siu Lam, the majority shareholder of China Financial Services Holdings Limited ("China Financial Services"), a Hong Kong-listed company principally engaged in the provision of short-term financing services to small and medium enterprises, micro-enterprises and individuals, in connection with the acquisition from certain existing shareholders of China Financial Services of approximately 4.9% shareholding in China Financial Services by Fosun Hani Securities Limited and Peak Reinsurance Company Limited, both subsidiaries of Fosun International Limited, a Hong Kong-listed company. The acquisitions completed on January 11, 2017, and represent the first step to strategic cooperation between China Financial Services and the Fosun group.

Dechert also advised Talent Property Group Limited ("Talent Property"), a Hong Kong-listed company which is principally engaged in property development, investment and management in the PRC through its subsidiaries, on its approximately RMB49 million formation of a PRC joint venture ("JV") (with an intended final registered capital of RMB100 million). The JV completed its registration with the Administration for Industry and Commerce on 4 January 2017 and is engaged in, among others, the investment, development, construction, operation and management of logistics facilities. Dechert also subsequently advised Talent Property on the JV's approximately RMB191 million bid for land use rights to a land parcel in Yangzhou, Jiangsu Province, the PRC, through an open tender auction organized by the PRC government. The JV successfully bid for the land use rights on January 11, 2017.

Both transactions were led by Hong Kong-based corporate partner Stephen Chan, joined by corporate associates Denise Tsui, Nicole Wong and Jacqueline Foo.

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