Fangda represented China Reform Capital in its acquisition of the 71.99% equity interests of Huarong Securities
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Fangda Partners represented China Reform Capital Co., Ltd.(“China Reform Capital”) in its acquisition of the 71.99% equity interests of Huarong Securities Co., Ltd.( “Huarong Securities”) held by China Huarong Asset Management Co., Ltd. (“China Huarong”, 2799.HK) through participating in the auction sale conducted in a financial assets exchange, involving an aggregate purchase price of RMB 10,932,980,500. The transaction was signed and publicized on January 27, 2022. Upon the completion of this deal, the controlling shareholder of Huarong Securities will be changed from China Huarong to China Reform Capital. Fangda team on this deal was led by partner Avica Wang, and supported by counsel Ray Xu as well as associates Patrick Peng, Carrie Yue, Julia Yang and Cengsi Ma. Fangda provided professional service to China Reform Capital in the whole process of this deal, which includes due diligence work, advice on deal structure, preparation and negotiation of transaction documents.
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