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Fangda advises Boyu Group on extending a voluntary general offer for Jinke Services
Fangda Partners is advising Thematic Bridge Investment Pte. Ltd.(the “Offeror”), an investment vehicle of Boyu Group, LLC (“Boyu”), on its voluntary conditional general cash offer (the “Offer”) for all of the offer shares in Jinke Smart Services Group Co., Ltd. (“Jinke Services”), one of China’s leading property management services companies listed on the Hong Kong Stock Exchange. This follows Fangda’s representation of Boyu in connection with its acquisition of a 22% equity interest in Jinke Services in December 2021.
The Offer, which will be made at a cash consideration of HK$12 per share, was announced on 27 September 2022. The maximum amount of aggregate cash consideration to be paid to shareholders for all the offer shares under the Offer would be approximately HK$4,763 million. The Offer will be subject to conditions including, among others, valid acceptances resulting in Boyu holding at least 30.40% of the issued share capital of Jinke Services and anti-trust clearance.
Founded in 2011, Boyu is an alternative asset management company focusing on private equity investment, listed company investment, venture capital investment and real estate and special opportunity investment. Jinke Services is a joint stock company incorporated in the PRC with limited liability. Its group is principally engaged in the provision of space property management services, community value-added services, local catering services and smart living technology solutions in the PRC.
The Fangda team advising on the this deal was led by partners Leo Lou, Peter Yuen, Guanbing Chen, Caroline Huang and supported by Partners Stanley Chen and Howard Chan. Team members of this deal included Kaiyu Liu, Wen Kang, Harry Xu, Chris Peng, Yuan Cao, Xiaodong Liang, Derrick Zhu, Jenny Ding, Josie Zheng, and Carl An.
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