Fangda Partners and Guantao Law Firm have assisted on Beijing State-owned Assets Management’s RMB1.5 billion (USD215.4 million) acquisition of an 85.01% stake in Credit Suisse Securities (China).
In 2008, UBS and Founder Securities formed Credit Suisse Securities, but the joint venture had recorded losses of RMB255 million in 2022 and RMB199 million in 2023.
UBS retains 14.99% after selling a 36.01% in Credit Suisse Securities to Beijing State-owned Assets Management for USD91.4 million, while Founder Securities sold its entire 49% holding for USD124 million.
Fangda counselled UBS and Founder Securities, with partners from the financial industry group Grace Yu, Pan Siyuan and Sam Wang leading the team. Antitrust partner Caroline Huang and tax partner Zhao Yan assisted.
Guantao partners Li Xiaohao and Wang Min advised Beijing State-owned Assets Management on the transaction.
Beijing State-owned Assets Management is an integrated investment holding company owned by the Beijing municipal government, which operates and manages the capital’s assets.
Credit Suisse Securities offers a range of investment banking services to corporate and institutional investors.
