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[7-23-13]
Han Yi Assisted A Consortium of Investors to Privatize SVN
Han Yi lawyers have recently assisted a consortium consisting of Actis LLP, Carlyle Asia Partners III, L.P., and Sequoia Capital China Growth 2010 Fund, L.P., among others, with the successful acquisition and privatization of 7 Days Group Holdings Limited (or "SVN").
SVN is one of the top three economy hotel chains in China which was also the first Chinese economy hotel chain to become listed on the New York Stock Exchange. By the first quarter of 2013, SVN has approximately 500 leased-and-operated hotels and some 1,000 managed hotels in operation. This going private transaction has involved both offshore equity acquisition and debt financing, and taken more than half a year to get successfully completed. As the PRC legal counsel to the investor consortium, Han Yi lawyers provided a full spectrum of PRC legal services and support to all relevant parties throughout the transaction process by delivering a full-blown PRC legal due diligence review, investigation and report on the PRC operations of SVN, assisting multiple co-counsels with the preparation and revisions of various transaction documents from the PRC law and practice perspectives, and providing PRC legal advisory support on an ongoing basis to the transaction parties on all kinds of PRC legal issues concerning deal structuring, financing and documentation process.