14 April, 2016

Shearman & Sterling is advising Hong Kong-listed Phoenix Healthcare on its US$480 million acquisition of certain hospital businesses of China Resources Healthcare Group (CR Healthcare), one of the largest state-owned enterprises in China’s healthcare industry.  CR Healthcare will become a controlling shareholder of Phoenix Healthcare.
 
Phoenix Healthcare is one of the largest private hospital groups in the PRC, comprising 60 medical institutions with approximately 5,780 beds in operation in Beijing, Tianjin and Hebei. 
 
CR Healthcare is a wholly-owned subsidiary of China Resources (Holdings) Co., Ltd., one of the largest state-owned enterprises under the administration of the State-owned Assets Supervision and Administration Commission of the State Council.
 
The transaction involves a connected transaction under the Hong Kong Listing Rules, as well as a whitewash waiver application under the Hong Kong Takeovers Code.
 
The Shearman & Sterling team is led by partner Peter Chen, with support from counsels Vanessa Poon and Edward Bong, and associate Stephen Luo (all Hong Kong-Capital Markets).

See more at Conventus Law

Important Announcement: Fraud Prevention Statement

We want to bring to your attention that there have been reports of individuals outside our organization contacting the public while falsely claiming to be representatives of Ashford Benjamin. These scammers have used channels such as social media, WhatsApp, phone, and email to request sensitive information, including CVs, personal details, and bank account information. Read More..,...