Conyers provided Bermuda legal advice to Haier Electronics Group Co., Ltd. (“Haier Electronics”) on the privatisation of Haier Electronics by way of a scheme of arrangement (under Section 99 of the Companies Act 1981 of Bermuda) and its subsequent delisting from the Hong Kong Stock Exchange. The Scheme involves a simultaneously listing of the shares of Haier Smart Home Co., Ltd., a PRC company on the Main Board of The Stock Exchange of Hong Kong Limited, with its shares being allotted to the Scheme Shareholders as consideration of the Scheme.
Haier Electronics is a subsidiary of Haier Group. Founded in 1984, Haier Groups headquartered in Qingdao. It principally engaged in the research, development, manufacture and sale of washing machines and water heaters as well as other home electric appliance products in the PRC.
Partner Christopher Bickley, Legal Manager Rowan Wu of Conyers’ Hong Kong office and Associate Rhys Williams of Bermuda office advised on the matter, working alongside Fangda Partners.