DeHeng Advised Zhuguang Holdings Group on Completing Acquisition 

of About 28.44% Equity of Silver Grant International Industries Limited



On October 31, 2018, Zhuguang Holdings Group Co., Ltd. (stock code: 01176.HK, hereinafter referred to as "Zhuguang Holdings") announced at the HKEX that the transaction of acquiring 28.44% of the equity of Silver Grant International Industries Limited (stock code: 00171.HK, hereinafter referred to as "Silver Grant International" or the "target group"), the target company held by CGN International and Silver Grant Group, for a consideration of 2.02 billion yuan was completed. Zhuguang Holdings became the single largest shareholder of Silver Grant International, holding approximately 29.56% of the issued share capital of Silver Grant International.


According to the previous announcements of Zhuguang Holdings, the board of directors of the company considers that this acquisition will assist the synergy between the Group's existing business and the Target Group's business, enabling the Group to benefit from the joint business cooperation activities with the Target Group and generate more potential businesses, expand the Group's new revenue sources and strengthen the Group's sustainable development capabilities; at the same time, the Group's rich experience in real estate development, real estate investment, project management and other real estate development will help the Group's future operations of the Target Group. This acquisition is in line with the overall interests of the Group and its shareholders, and will provide a better direction for the Group’s transformation.

In five months for this acquisition, DeHeng, as the special legal counsel of the acquiring party in China, formed a project team led by Su Qiyun and Liu Shuang from Shenzhen office, supported by Shenzhen office’s Huangfu Tianzhi, Wang Yang, Li Junheng, Deng Yuge, Chen Siyi as well as assistant lawyer Zhang Zhipeng. The team members went to Beijing, Taizhou and other places to make the due diligence on site, and participated in whole process of the acquisition. In a limited time span, the team completed the full due diligence of over 10 billion yuan assets in the target group’s three major business segments, including private equity and non-performing assets investment, commercial property, and petrochemicals; issued detailed due diligence reports to the acquirer; made full disclosure and objective analysis of the major domestic legal issues in this acquisition; and assisted the acquirer in determining the relevant terms of the transaction terms to facilitate the successful completion of this acquisition.


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