Deals

Complant Corporation makes a strategic investment in Singapore-based Tialoc Group, embarking on a new phase of development in the “Belt and Road” Initiative project

On 21 December 2021, China National Complete Plant Import & Export Corporation Limited (the "Listco"), via its designated wholly-owned subsidiary in Hong Kong SAR, purchased from a wholly-owned Hong Kong SAR subsidiary of China National Complete Plant Import & Export Group Corporation Limited (the "Complant Group") 30% of its shareholding in Tialoc Singapore Pte. Ltd. for a consideration of RMB378.9 million, and obtained the voting rights of its remaining shareholding by way of an entrustment arrangement. The purpose of this project is to enhance the profitability of the Listco, maximize shareholders’ interests, achieve the strategic transformation of the Listco into the environmental protection industry, and further strengthen the competitive advantage of the company.

27 December 2021

Deals

BEST Inc. Sells its Express Business in China to J&T Express

In October 2021, BEST Inc. (“BEST”, NYSE: BEST) announced that it has agreed to sell its express delivery business in China to J&T Global Express Limited (“J&T Express”) at approximately RMB 6.8 billion enterprise value. This transaction was closed successfully on December 17, 2021. This transaction allows BEST to better capitalize on its strengths by focusing on supply chain-based logistics solutions and providing integrated supply chain, freight and global logistics services to customers.

20 December 2021

Deals

King & Wood Mallesons advises Longyuan Power on CSRC’s approval of its absorption and merger of Pingzhuang Energy

On 8 December 2021, China Longyuan Power Group Corporation Limited (Longyuan Power, 00916.HK)’s absorption and merger of Inner Mongolia Pingzhuang Energy Co., Ltd. (Pingzhuang Energy, 000780.SZ) through share swap, and disposal of material assets and purchase of assets through cash payment and related party transactions were approved by the Review Committee on Mergers and Acquisitions of Listed Companies of China Securities Regulatory Commission (CSRC).

08 December 2021