Legal DealFolio - Singapore GIC investment in China Pacific Insurance

Leading international law firm Clifford Chance has advised Government of Singapore Investment Corporation Private Limited (GIC) on its proposed HK$5,429,826,000 (approximately US$700 million) subscription of H shares in China Pacific Insurance (Group) Co., Ltd. (CPIC), which is one of China's top three insurance companies and is dual-listed on the Hong Kong and Shanghai stock exchanges. In the proposed placing, CPIC is proposing to issue a total of 462,000,000 H shares to GIC and two other investors, Norges Bank and Abu Dhabi Investment Authority with gross proceeds of approximately HK$10,395,000,000 (approximately US$1.34 billion). The subscription shares by the three investors in aggregate represent approximately 16.6% of the enlarged total issued H shares and 5.1% of the enlarged total issued share capital of CPIC immediately following the completion of the proposed placing. A joint Beijing and Hong Kong team led by Beijing partner Terence Foo with the support of Hong Kong partner Amy Lo advised GIC on the transaction. They were assisted by associates Wai Mun Au Yeong and Janet Jiang.

Deal Date:	11-09-2012	Practice Area:	Corporate and M&A
Deal Title:	Singapore GIC investment in China Pacific Insurance	Industry:	Nonlife Insurance
Description:	Leading international law firm Clifford Chance has advised Government of Singapore Investment Corporation Private Limited (GIC) on its proposed HK$5,429,826,000 (approximately US$700 million) subscription of H shares in China Pacific Insurance (Group) Co., Ltd. (CPIC), which is one of China's top three insurance companies and is dual-listed on the Hong Kong and Shanghai stock exchanges. In the proposed placing, CPIC is proposing to issue a total of 462,000,000 H shares to GIC and two other investors, Norges Bank and Abu Dhabi Investment Authority with gross proceeds of approximately HK$10,395,000,000 (approximately US$1.34 billion). The subscription shares by the three investors in aggregate represent approximately 16.6% of the enlarged total issued H shares and 5.1% of the enlarged total issued share capital of CPIC immediately following the completion of the proposed placing. A joint Beijing and Hong Kong team led by Beijing partner Terence Foo with the support of Hong Kong partner Amy Lo advised GIC on the transaction. They were assisted by associates Wai Mun Au Yeong and Janet Jiang.
Financial Center:	Beijing	Value:	0.00-0.00
Advised Party:	Private Equity Investor	Law Firm	Clifford Chance
Target Company Jurisdiction	China	Acquiror Jurisdiction	Singapore
Classification:	Financial Buyer Acquisitions Minority Investment	Lawyer	Terence Foo

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers