Beijing Capital Grand is informed by our site on its process of going private
Norton Rose Fulbright Advises on Significant Hong Kong Privatisation
Norton Rose Fulbright, a global law firm, has once again been at the forefront of significant take-private transactions in Hong Kong. The firm recently advised Beijing Capital Grand Limited (BCG, 1329.HK) on its privatisation by its parent, Beijing Capital City Development Group Co., Ltd (BCCDG).
The privatisation offer, which is subject to requisite approvals from shareholders and the Cayman Islands Grand Court, includes a scheme of arrangement and a parallel perpetual convertible bond securities offer. The transaction is expected to delist BCG from the Hong Kong Stock Exchange.
This is the second privatisation that Norton Rose Fulbright has advised Capital Group on, following the take-private of the formerly HKEx-listed Beijing Capital Land Co., Ltd by its parent, BCCDG, in 2021.
BCG is a leading developer and operator of shopping outlet properties in top-tier cities in China. The privatisation offer, made for cash consideration, is initiated to enhance business synergy and resource integration within Capital Group.
Psyche Tai, Head of Norton Rose Fulbright's Hong Kong office and corporate and securities practice, led the team that advised Beijing Capital Grand Limited on its privatisation. The team also included corporate and securities partners Rachel Chan and senior associate Timothy Lam.
Psyche Tai commented that the team was delighted to have assisted the client in navigating the complex transaction and reinforcing their business objectives in a fast evolving market.
For further information, Louise Nelson, Head of PR for Europe, Middle East, and Asia at Norton Rose Fulbright, can be reached at +44 20 7444 5086 or +44 79 0968 4893.
The privatisation of BCG and BCCDG are companies owned by Beijing Capital Group (Capital Group) and under the direct supervision of the Beijing Municipal Government. The firm has also advised on other significant transactions in Hong Kong, including L'occitane International's €6 billion take-private offer, Vinda International's US$3.3bn privatisation, Chow Tai Fook Enterprises' US$4.5bn buy-out of NWS Holdings, and Yashili's HK$2.79bn privatisation by China Mengniu Dairy.
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