AllBright Advises SIIC Environment on Stake Purchase2014-07-042411
Recently, AllBright’s client, SIIC Environment Holdings Ltd. (5GB.SG), announced that it has purchased a 25.3125% stake in Long Jiang Environment Protection Group Share Company through overseas indirect purchasing and domestic direct purchasing. The purchasing value is 405 million RMB.
Listed on the SGX-ST Mainboard, SIIC Environment is a top-tier player in the Chinese water sector and the company is committed to enlarging its market share in this field and the environmental industry.
Long Jiang Environment Protection is a Harbin, Heilongjiang Province-based Sino-Foreign joint venture water processing company. It has 14 subsidiaries and one branch in Heilongjiang Province, all in the area of investing, building and operating water plants and water supply projects.
AllBright partner Julia Zhu led the AllBright team, which included associates Ted Hu, Zhong Yang, Wu Jin and paralegal Shen Dongyi, to advise the client as its Chinese legal team to issue legal opinions, review stake transfer contracts, and represent the client throughout the entire procedure. AllBright’s associated law firm Hong Kong’s Stevenson, Wong & Co. advised SIIC Environment on legal issues related to Hong Kong laws and regulations.