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Latham & Watkins represented The Ming An (Holdings) Company Limited (“MAH”) in connection with its privatization by way of a scheme of arrangement by China Taiping Insurance Holdings Company Limited (formerly known as China Insurance International Holdings Company Limited) (“CTIH”) and the subsequent withdrawal of listing of its shares from the Hong Kong Stock Exchange (“HKEx”).
The privatization involved two share purchase transactions, including, in the first instance, the acquisition by CTIH of 47.80% of the issued shared capital of MAH from China Taiping Insurance Group (HK) Company Limited (formerly known as China Insurance H.K. (Holdings) Co., Ltd) in May 2009 and the subsequent acquisition of approximately 48.66% of the issued shared capital of MAH from the remaining MAH shareholders by way of a scheme of arrangement in August 2009.
The two acquisitions were valued at approximately HK$1,819,900,000 and HK$1,852,600,000 respectively, totaling HK$3,672,500,000.
The privatization was announced on May 22, 2009 and closed on October 31, 2009. MAH was delisted from HKEx on November 2, 2009.
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