Jul 2025
Conyers provided Cayman Islands law advice to the offeror consortium and ESR Group Limited (“ESR”) on its privatisation and delisting from the Hong Kong Stock Exchange by way of scheme of arrangement. The transaction values ESR at HK$55.2 billion (approximately US$7.1 billion) on an equity value basis, making it the largest privatisation from the Hong Kong Stock Exchange since 2021.
ESR is a key player in Asia-Pacific’s real asset sector with a strong focus on logistics and digital infrastructure. The privatisation supports the consortium’s strategy to drive long-term value through private ownership. ESR is committed to reducing its carbon footprint and achieving carbon neutrality, aligning with broader global efforts to combat climate change through initiatives such as carbon neutrality goals, climate adaptation strategies, and the use of renewable energy like solar and hydrogen.
Conyers’ Hong Kong office advised both parties, with Partner Angie Chu, Consultant David Lamb, Counsel Alexander Doyle, and Associates Yvonne Lee and Michelle Au acting for the offeror consortium. Partners Richard Hall and Ryan McConvey advised ESR Group Limited.