Jingtian & Gongcheng advised state-owned enterprise Shandong Gold Mining on PRC and Hong Kong laws on the RMB12.76 billion (USD1.77 billion) acquisition of a 23.1% stake in Yintai Gold.
The transaction is the largest acquisition in the A-share gold sector, which is also the first A-share and H-share company to acquire an A-share firm in the gold industry.
Shandong Gold purchased the shares from China Yintai Investment and Shen Guojun, founder of the Yintai Group.
The transaction involved compliance with the regulatory requirements of the three stock exchanges because Shandong Gold is listed in Hong Kong and Shanghai, while Yintai is listed in Shenzhen. Shandong Gold also faced state capital regulatory and antitrust reviews.