Oon & Bazul’s Corporate Practice acted for China Merchants Industry Holding Company Limited in a voluntary conditional cash offer

Published On: February 19, 20200.7 min read

Oon & Bazul’s Corporate Practice acted for China Merchants Industry Holding Company Limited, a central state-owned enterprise headquartered in Hong Kong and a leading offshore engineering equipment and service provider, in a voluntary conditional cash offer (“Offer”) by its wholly-owned subsidiary, China Merchants Industry Investment Limited, for all the issued and paid-up shares in the capital of AVIC International Maritime Holdings Limited (“AIMHL”), an SGX-ST Catalist Board listed company, which provides integrated solutions in the marine business industry including shipbuilding project management and consultancy, design and engineering, shipbuilding, and ship-trading.

The deal, at an offer price of S$0.15 per share, is valued at over S$42.8 million and also involved the compulsory acquisition of all remaining shares from the dissenting shareholders of AIMHL following the close of the Offer.

Head of the firm’s M&A and Corporate Finance Practice, Lam Shiao Ning, led this transaction.