Slaughter and May is advising HNA Finance I and HKICIM in relation to the disposal by HNA Finance I of a controlling interest in HKICIM to Blackstone and the mandatory general offer for HKICIM

Slaughter and May, Hong Kong, is advising HNA Finance I Co., Ltd. (HNA Finance I) and Hong Kong International Construction Investment Management Group Co., Limited (HKICIM) in relation to the proposed disposal by HNA Finance I of its 69.5% shareholding in HKICIM to Times Holdings II Limited (Times Holdings) and the possible mandatory general offers (Offers) to be made by Times Holdings to acquire all the issued shares in, and to cancel all outstanding share options of, HKICIM.

The transaction and the Offers were announced on 8 March 2019. The consideration payable to HNA Finance I is approximately HK$7.0 billion, and the total value of the Offers (assuming that no share options of HKICIM are exercised before the close of the Offers) is approximately HK$3.3 billion.

HNA Finance I Co., Ltd. is wholly-owned by HNA Group Co., Ltd..

HKICIM is listed on the Hong Kong Stock Exchange. It is principally engaged in foundation piling and site investigation, property development and investment businesses.

Times Holdings is ultimately controlled by The Blackstone Group L.P..