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KWM helps secure China gas acquisition
King & Wood Mallesons and Clifford Chance have advised on the acquisition of a major gas operator in China by China Resources Gas Group Limited (CRG)
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Firms: King & Wood Mallesons (CRG), Clifford Chance (AEI China Gas Ltd) Deal: Acquisition of AEI China Gas Ltd
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Area: Energy and resources
Value: US $237.7 million
Key players: The KWM team was led by corporate and securities partners Raymond Wong and Sophia Wang, who were supported by senior associates Yee-Yung Cho and Ouou Bao, associates Magdalene Lye and Karina Man, and registered foreign lawyer Yvonne Yao.
Deal significance: AEI China Gas Ltd operates 28 city gas projects, eight gas stations and four midstream gas transmission pipeline projects throughout China. Under the deal, Hong Kong-listed CRG will acquire a 100 per cent interest in AEI China Gas Ltd from AEI Asia Ltd. The deal will significantly expand CRG’s downstream city gas operations into mainland China, which currently has 73 city gas projects in 16 provinces in China. King & Wood Mallesons acted as Hong Kong and international counsel for CRG across all aspects of the deal, including preparing, negotiating and finalising the transaction documents.
