Auto finance company joint venture

Gide Loyrette Nouel (GLN) has advised auto finance company Compagnie Générale de Locations d’Equipement (CGL), a subsidiary of Société Générale Consumer Finance, on a joint venture with BYD Company Ltd, one of China’s fastest growing automotive manufacturers. The newly created company, to be known as BYD Auto Finance Co Ltd, is expected to start operations in early 2011 and will provide auto financing for mainland China’s burgeoning car market, including customer loans for new vehicles. The establishment of BYD Auto Finance is subject to the approval of Chinese authorities and,
in particular, the China Banking Regulation Commission. The GLN team was led by partner Guillaume Rougier-Brierre with assistance from Jiang Chuan.

Plastic pipes manufacturer’s global listing

Fried, Frank, Harris, Shriver & Jacobson represented China Liansu Group Holdings Ltd in connection with its global offering of ordinary shares for aggregate gross proceeds of US$250 million (HK$1.95 billion) and the related listing of such shares on the Hong Kong Stock Exchange. The global offering consisted of a Hong Kong public offering and a concurrent 144A/Reg S placement. JP Morgan and UBS acted as joint global coordinators for the transaction. China Liansu is one of the largest manufacturers of plastic pipes and pipe fittings in China. The Fried Frank team was led by partners Victoria Lloyd and Joshua Wechsler.

Software company merger

DLA Piper has represented AsiaInfo Holdings Inc in its merger with Linkage Technologies International Holdings Ltd, which closed on 1 July. The transaction, a cash and stock deal valued at US$733 million (HK$5.7 billion), creates one of the largest software companies in China. AsiaInfo is a leading provider of software solutions and IT
services for the telecommunications industry in China. DLA Piper and Han Kun Law Office acted as legal advisors to AsiaInfo in the transaction and Latham & Watkins and Global Law Office served as legal advisors, to Linkage. The DLA Piper team advising AsiaInfo was led by partners Matt Adler and Steve Liu.

Sale of insulation, panels and trading businesses

Allens Arthur Robinson has advised CSR on its recent agreement to sell 100% of its Asian insulation, panels and trading businesses to Rockwool Group for AU$128 million (HK$866 million). The sale reflects CSR’s plan to focus on its core market-leading positions in the Australian and New Zealand building products market. The Allens team was led by head of Greater China M&A Campbell Davidson.

Gold mining company’s share placement

O’Melveny & Myers has represented Real Gold Mining Ltd, the PRC’s leading gold mining company engaged in the exploration, mining and processing of gold ore and sale of concentrates, in a topup placing that raised US$156 million (HK$1.2 billion). Real Gold intends to use the proceeds for potential future acquisitions and developments of mining and exploration projects. The team was led by partner Gordon Ng.