Fangda Partners represented PCCW Limited (“PCCW”) (HKSE: 0008) in PCCW Solutions Holdings Limited’s sale to Lenovo Group Limited (“Lenovo”) (HKSE: 992) (ADR: LNVGY) 80% shares in PCCW Lenovo Technology Solutions and 20% shares in PCCW Network Services, involving a total consideration of US$613.6 million comprising US$513.6 million in cash and US$100.0 million in Lenovo shares. Through the transaction, PCCW and Lenovo formed a strategic partnership to create a technology solutions business in the Asia Pacific region. The transaction was announced on June 14, 2022 and was closed on August 12, 2022. The Fangda team on this deal was led by partner George Xu, supported by team members including Jason Xu, Sofia Hu and Zhuxin Liu. Fangda acted as the PRC legal advisor of the deal, provided legal advice to the transaction, and participated in drafting of the transaction documents and the closing.

PCCW is a global company headquartered in Hong Kong which holds interests in telecommunications, media, IT solutions, property development and investment, and other businesses; Lenovo is a world leading PC player.