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Clifford Chance advises Sun Hung Kai on US$528 million sale of stake in Sun Hung Kai Financial

4 February 2015

Clifford Chance advises Sun Hung Kai on US$528 million sale of stake in Sun Hung Kai Financial

Leading international law firm Clifford Chance has advised Sun Hung Kai & Co (SHKCO) on the disposal of 70% of Sun Hung Kai Financial (SHKF), one of the largest Hong Kong-based brokerage and wealth management service providers, for HK$4.1 billion (US$528 million) to Everbright Securities Financial Holdings Limited, a wholly owned subsidiary of Shanghai-listed Everbright Securities Company Limited, China's eighth-biggest brokerage. The transaction was signed on 1 February 2015 and is subject to regulatory and shareholder approvals.

Partner Simon Cooke who led on the deal said, "This deal is the latest example of the increasing interest from Chinese securities houses looking to expand their business outside of their home market and we are very happy to be helping Sun Hung Kai on what is a significant transaction for them."

Simon was supported by senior associates Raymond Ng and Christina Hui and associate Brian Cheng. Consultant Helen Fok and associate Patricia Woo advised on the regulatory aspects, with partner Ling Ho and senior associate Alice Tang assisting on IP and senior associate Clara Shirota on certain financing arrangements.

SHKCO is one of Hong Kong's leading financial companies and is listed on the Hong Kong Stock Exchange. The proceeds from the stake sale will be redeployed to accelerate the growth of SHKCO's consumer finance, structured finance and principal investments businesses.