Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 15-10-2014 | Practice Area: | Corporate and M&A |
| Deal Title: | HOPU Investment Management - Sinopec Marketing Interest | Industry: | Oil & Gas Producers |
| Description: |
Clifford Chance advised HOPU Investment Management Co., Ltd. as sponsor of a consortium of approximately USD231 million (RMB1.421 billion) to invest in Sinopec Marketing Co., Ltd, the refined oil retail subsidiary of China Petroleum and Chemical Corporation, which operates more than 30,000 petrol stations and 23,000 convenience stores in China.
The HOPU consortium, along with 24 other domestic and foreign investors, will subscribe for a 29.99% interest in Sinopec Marketing for an aggregate amount of approximately USD17.4 billion (RMB107.094 billion). Other key investors in Sinopec Marketing include Fosun International and ENN Energy Holdings.
Ying White and Terence Foo co-led the transaction and were supported by senior associate Hong Zhang and associates Menghan Wang and Zhonghua Shi in Beijing, consultant Teresa Leung in Hong Kong and associate Rebecca Pereira in New York.
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| Financial Center: | Beijing | Value: | 100.01-500.00 |
| Advised Party: | Private Equity Investor | Law Firm | Clifford Chance |
| Target Company Jurisdiction | China | Acquiror Jurisdiction | Hong Kong |
| Classification: |
Financial Buyer Acquisitions Minority Investment |
Lawyer | Terence Foo |
