Hong Kong – Paul Hastings, a leading global law firm, announced today that it represented Chinese private equity investor CDH Investments (“CDH”) in its US$900 million sale of shares in WH Group. WH Group is the owner of the world’s largest pork producer and processor Smithfield Foods Inc. The deal is the second largest block trade in Asia ex-Japan so far this year.
CDH's shareholding in WH Group will be reduced to 19.77 percent from 30.39 percent upon completion of the deal. Heroic Zone Investments Limited, a company controlled by the senior management of WH Group, will buy 292 million shares, raising its stake to 36.01 percent from 34.02 percent.
Paul Hastings has advised CDH on several transactions over the years including, in March 2016, on its disposal of Chinese coal mine operator Hao Chang Limited to Up Energy Development Group Limited and, in November 2014, on the acquisition of a 78.775 percent stake in Fujian Nanping Nanfu Battery Co., Ltd, Procter & Gamble’s China-based battery joint venture, as part of the whole disposal by P&G of its global battery business.
The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and partner Vivian Lam, with support from associates Bonnie Kong, Eric Chow, Jeff Lee and Matt Li.
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