12 July 2021

KWM advises on the privatisation financing for China Customer Relations Centers, Inc.

King & Wood Mallesons (KWM) advised China Merchants Bank Co., Ltd. as the lender on a secured term loan facility provided to Taiying Group Ltd. for financing the going-private transaction of China Customer Relations Centers, Inc. (CCRC, NASDAQ: CCRC).

The going-private transaction, which is by way of a merger of CCRC and Taiying International Inc., the wholly-owned subsidiary of Taiying Group Ltd, was completed on 6 July 2021. The buyer group includes Mr. Zhili Wang, the chief executive officer and chairman of the Board, Mr. Debao Wang, the chief financial officer and vice chairman of the Board, and certain other shareholders of CCRC. Upon completion, CCRC will be delisted from the NASDAQ.

CCRC is a leading e-commerce and financial services business process outsourcing service provider in China.

KWM acted for the lender on the privatisation financing in respect of the laws of the PRC, Hong Kong SAR and the US. The team was led by partners Jessica Zhou in Hong Kong, Stanley Zhou and Chunlong Xu in Shanghai, and Eli Han in New York and Tom Shoesmith in Silicon Valley, with support from Bryan Lo, Candice Chan, Zhongyun Yi, Ariel Shi and Chuyi Sheng.

 

Any reference to “Hong Kong” or “Hong Kong SAR” shall be construed as a reference to “Hong Kong Special Administrative Region of the People’s Republic of China”.

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