Yuexiu (China) Transport Infrastructure Investment Co., Ltd. ("Yuexiu China" or the "Purchaser") entered into an agreement with Guangzhou Yue Xiu Holdings Limited (“Yuexiu Group”) to acquire 55% of the equity interests held in Henan Yuexiu Pinglin Expressway as well as the toll collection rights of Pinglin Expressway (Pinglin Expressway is the Pingdingshan to Linru section of the national key highway from Shanghai to Luoyang within Henan Province) (the "Project"). The Project was recently approved at a special general meeting by the Purchaser’s shareholder, Yuexiu Transport Infrastructure Limited (01052.HK, "Yuexiu Transport").
Yuexiu China is a wholly-owned subsidiary of Yuexiu Transport, a company listed on the Hong Kong Stock Exchange. The main shareholder of Yuexiu Transport, Yuexiu Group, is a state-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission of the Guangzhou Municipal People’s Government. This Project exemplifies Yuexiu Transport’s successful strategy to “inject high quality assets into a listed company from a parent company after incubation".
JunHe acted as the special legal advisor to the Purchaser throughout the Project, and provided comprehensive legal services that included conducting legal due diligence, drafting the complete set of transaction documents, and issuing legal opinions. Our dedicated team’s rigorous analysis ensured the Project’s timely progression, earning high recognition and trust from the client.
The JunHe team advising on the Project was led by partners CUI, Bing (Benson) and ZHANG, Ping, and included partners GUO, Xi (Edward) and ZHU, Yuanyuan. Partner CHEN, Yanmei provided valuable support.