Yunfeng Financial Invests in Reorient Group
12.07.15
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Simpson Thacher recently represented Yunfeng Financial Holdings Limited (“Yunfeng Financial”) in connection with its investment in Reorient Group Limited (“Reorient”) (SEHK00376), a provider of financial services business in Hong Kong and the United States. Pursuant to the Share Subscription Agreements entered by Reorient and the investors on May 7, 2015, Yunfeng Financial and four other investors – Harbour Yields, Violet Passion, Gentle Bright and Chosen Global – subscribed a total of 1,942,520,000 shares (“Subscription Shares”) at an issue price of HK$2 per share for an aggregate amount of HK$3,885,040,000 (approximately US$500 million). Of the total Subscription Shares, Yunfeng Financial subscribed 1,342,976,000 shares for approximately HK$2.69 billion (US$345 million). Upon completion, Yunfeng Financial is in control of 55.97% stake of Reorient through Jade Passion, an indirect subsidiary owned as to 73.21% by Yunfeng Financial.
The Simpson Thacher team includes Celia Lam, Leiming Chen, Venus Lo, Ethle Tang, Yi Gao and Deborah Gruen (Corporate); and Steven DeLott (Regulatory).