Clifford Chance Advised China Merchants Capital On $870 Million Investment In HKT Trust & HKT Ltd.
Clifford Chance Advised China Merchants Capital On $870 Million Investment In HKT Trust & HKT Ltd.
Clifford Chance has provided Legal Counsel to China Merchants Capital (CMC) on its significant $870 million investment for a 40% stake in the fibre assets of HKT Trust & HKT Limited, a subsidiary of Hong Kong's telecom giant PCCW.
The transaction, which involves CMC acquiring shares in Regional Link Telecom Services Holdings Ltd, was disclosed through a PCCW filing. The Hong Kong-based telecom group announced that the proceeds from this deal would support general corporate purposes, including debt repayment.
PCCW, under the control of Hong Kong billionaire Richard Li, has been strategically divesting various assets over recent years. This latest transaction marks a continuation of their asset management and restructuring efforts.
CMC, an alternative investment and asset management platform jointly owned by China Merchants Group and GLP, oversees nearly 70 funds in both yuan and foreign currencies. This investment in HKT’s fibre assets signifies CMC's ongoing strategy to expand its portfolio and capitalize on growth opportunities in the telecommunications sector.
The Clifford Chance team spearheading the legal advisory for CMC included Partners Julie Fu, Liyong Xing, Edith Leung, and Yong Bai, who collectively brought their extensive expertise to the successful completion of the transaction.
