Stevenson, Wong & Co. acted as Hong Kong legal advisers to International Alliance Financial Leasing Co., Ltd. (Stock Code: 1563) (the “Company”) in its extreme and connected transaction in relation to the acquisition of 70% interests in Yantai Nanshan University* (烟台南山学院) (the “Target College”), at a total consideration of RMB566 million (the “Acquisition”). The Acquisition was approved by the independent shareholders of the Company and completed on 18 August 2022.
The Acquisition was an extreme transaction. We understand that this is one of the few extreme transaction cases on the main board of the Stock Exchange since the RTO Listing Rules amendments took effect in October 2019. The Acquisition also involved continuing connected transactions relating to variable-interest entity (VIE) contractual arrangements and ancillary business agreements.
The Company is principally engaged in the finance leasing and provides finance leasing and advisory services, targeting customers in the healthcare, aviation, and public infrastructure industries in the PRC. The Target College is a private undergraduate college, which was ranked third in all private undergraduate institutions in Shandong Province in terms of full-time student enrolment in the 2020/2021 school year.
Zhongtai International Capital Limited acted as the financial adviser to the Company. Gram Capital Limited was appointed as the independent financial adviser to the independent board committee and the independent shareholders of the Company.
Our team was led by our Partner Rodney Teoh, supported by team members including Associate Florence Wai, Trainee Solicitors Calvin Lo and Carmen Liu.
Please contact our Partner Rodney Teoh and Associate Florence Wai for any enquiries or further information.
* For identification purposes only.
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