NautaDutilh contributes to award winning Chinese deal
The material asset restructuring of Jiangsu Shagang, for which we acted as Dutch legal counsel, has been named by China Business Law Journal as one of the 2018 winners in the category Deals in China. To enable indirect acquisition of the data centre business of Global Switch outside China, Jiangsu Shagang intended to purchase a 100 percent stake in Suzhou Qingfeng Investment Management for a consideration of RMB22.9 billion, comprising cash and shares to be issued by Shagang.
According to Jincheng Tongda & Neal, the law firm responsible for co-ordinating foreign lawyers as Shagang`s chief legal counsel, the deal did not only involve assets in a dozen countries and regions, complex arrangements regarding shareholder rights, and internal restructuring, but also co-ordination and communication with foreign shareholders, and their advisers and intermediaries.
Jaap Jan Trommel, who co-heads NautaDutilh`s China Desk adds:" Because of the many stakeholders, all the different nationalities involved and the sheer complexity of the deal itself, this was no walk in the park. But getting this recognition is rewarding and it makes us very proud to have contributed to this winning deal.''
China Business Law Journal determines winning deals based on their overall significance, complexity and innovative nature, while also taking into account the deal size and broader interests.
Click here to see the full list of winners; the Jiangsu Shagang deal is number 13.