Jul 2025
Conyers provided Cayman Islands law advice to the offeror consortium and ESR Group Limited (“ESR”) on its privatisation and delisting from the Hong Kong Stock Exchange by way of a scheme of arrangement. The transaction values ESR at HK$55.2 billion (approximately US$7.1 billion) on an equity value basis, making it the largest privatisation from the Hong Kong Stock Exchange since 2021.
ESR is a key player in Asia-Pacific’s real asset sector with a strong focus on real estate, data centres, energy infrastructure and supply chains. With logistics and digital infrastructure, it provides customers with modern workspaces across Asia-Pacific and Europe.
ESR is committed to reducing its carbon footprint and achieving carbon neutrality, aligning with broader global efforts to combat climate change through initiatives such as carbon neutrality goals, climate adaptation strategies, and the use of renewable energy like solar and hydrogen.
ESR is a Cayman incorporated, Hong Kong listed company which follows a common offshore structure requiring advisors who are accustomed to advising on the intricacies of both the Cayman and the Hong Kong regulatory regime.
Conyers’ Hong Kong office advised both parties, with Partners Angie Chu and Alexander Doyle, Consultant David Lamb, Senior Associate Yvonne Lee and Associate Michelle Au acting for the offeror consortium. Partners Richard Hall and Ryan McConvey advised ESR Group Limited.
This matter won the Deals of the Year Award 2025 by the China Business Law Journal.