DeHeng Advised Aoyuan Healthy on Acquiring Easy Life
2020-06-12
On June 5, 2020, Aoyuan Healthy Life Group (hereinafter referred to as "Aoyuan Healthy," stock code: 3662.HK) announced the establishment of a share transfer agreement regarding its acquisition of Easy Life Smart Community Services Group Co., Ltd. (the National Equities Exchange and Quotations stock code: 837249), a property service subsidiary of Kinghand Industrial Investment Group Co., Ltd. Aoyuan Healthy offers the consideration of RMB 248 million to buy 80% of the equity of Easy Life. The deal will turn Easy Life into an indirect non-wholly-owned subsidiary of Aoyuan Healthy, with its financial results to be consolidated into the latter's comprehensive financial statements.
Aoyuan Healthy is listed on the main board of the Stock Exchange of Hong Kong (HKEX) and a component of MSCI China Small Cap Index. Based on commercial operations and property services, it focuses on the development of comprehensive health services such as aesthetic medicine, health preservation, and traditional Chinese medicine. It continues to apply technologies to health services, concentrates on developing customer-centered lifestyle services and medical and health services and offers them at community properties and business centers, so as to build an all-round healthy life ecosystem and generate sustainable and stable returns for shareholders. It is committed to becoming a leading healthy lifestyle service provider in China. Easy Life is a property management company under Kinghand Industrial Investment Group Co., Ltd. and listed on the NEEQ system.
As the legal counsel for the deal, the DeHeng team was composed of lawyers from its Beijing, Zhuhai and Shenzhen offices. It was headed by partner Tan Weihua, with primary support from partner Wei Sida and lawyers Zhang Kai and Huangfu Tianzhi, and assistance from lawyers Jie Jing, Huang Wei, Yang Yang and Bao Jie, as well as trainees Yang Zhehao, Wu Shuaichen, Zhou Xueliang, Yang Weigao, and Shi Zhancheng.
The DeHeng lawyers gave full play to their expertise, and provided legal services including deal structure design, coaching the delisting of the target company from the NEEQ system, legal due diligence, and issuance of legal opinions. At the request of the client, they worked with it at project sites to assist with the completion of the deal.
