Merits & Tree Law Offices, Zhong Lun Law Firm, Han Kun Law Offices, Global Law Office and King & Wood Mallesons (KWM) have assisted Unisplendour Corporation in acquiring a 30% stake in H3C for USD2.14 billion.
Unisplendour International Technology, a subsidiary of Unisplendour Corporation, acquired 30% of H3C stakes from two Hewlett Packard Enterprise Company’s subsidiaries. Unisplendour Corporation, which already held 51% in H3C will hold an 81% stake after the transaction is completed.
Zhong Lun’s partners William Qiu, Tao Yuanyuan, Yuan Ting, Zhu Yongchun and Xie Jianhui advised Unisplendour Corporation on PRC law. Han Kun advised the buyer on the cross-border transaction and compliance matters.
Partner Ryan Ren led Global Law Office’s team to advise Hewlett Packard Enterprise Company on PRC law.
KWM advised Industrial Bank, China CITIC Bank, China Minsheng Bank and Huaxia Bank, which offered about RMB9 billion in cross-border M&A syndicated loans in this transaction. Shanghai-based partners Stanley Zhou, Xu Chunlong and Hong Kong-based partner Jessica Zhou led KWM’s team.
The acquisition proposal shows that Unisplendour International Technology can buy the remaining 19% of H3C between 16-36 months after acquiring the first 30%. If the deal goes through, it triggers an extra USD1.36 billion, prompting major asset restructuring and disclosure requirements in China. Sun Dongsong and Cao Yajuan from Merits & Tree is advising Unisplendour Corporation on this.
The Shanghai-listed Unisplendour Corporation is a tech company, specialising in electronics and information technology. H3C is a networking equipment company that provides clients a digital platform that includes cloud computing, big data and artificial intelligence.
