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GLO advises HanKore Environment (SGX-ST:U9E) on its acquisition of Everbright Water Investment Limited, a subsidiary of China Everbright International Limited (HKEx:00257)
2015-01-06

On December 12, 2014, HanKore Environment Tech Group Limited (“HanKore Environment”, SGX-ST:U9E) successfully closed its acquisition of China Everbright Water Investment Limited (the “Target”) by acquiring the entire issued and paid-up share capital of the Target at a price of Singapore dollars equivalent to RMB5,811,267,353 in the form of allotting and issuing 1,940,269,305 new shares of HanKore Environment to the Target’s sole shareholder—China Everbright Water Holding Limited, which is in turn a subsidiary of China Everbright International Limited (HKEx:00257).  HanKore Environment has also been renamed China Everbright Water Limited.

 

HanKore Environment is a public company listed on the main board of Singapore Stock Exchange and has been operating 16 large municipal water projects in Beijing, Jiangsu, Shandong, Shanxi, Henan, etc., which include  municipal sewage, water reuse, industrial water treatment, sludge treatment, environmental protection facilities and equipment engineering projects, etc.  The Target has been operating 25 sewage treatment and water reuse projects in Shandong and Jiangsu provinces.

 

Global Law Office acted as the PRC legal counsel to HanKore Environment in this transaction and provided a full range of legal services, including conducting legal due diligence on the Target and its 14 domestic subsidiaries, preparing the transaction documents, issuing PRC legal opinion, responding to SGX-ST’s questions, etc. 

 

Our team was led by our Beijing-based partners Mr. Jun LI and Mr. Chengwei (Alex) LIU. Other team members include Yan LIU, Xu JIN, Haiyan ZHU, Yan GAN, Qin ZHU and other seasoned lawyers.