International law firm Reed Smith has advised long-standing client Fortune Oil plc on the disposal of its natural gas business to China Gas Holdings Limited, a company listed on the main board of the Hong Kong Stock Exchange. The transaction values the natural gas business at US$400 million.
Fortune Oil plc focuses on investments and operations in oil and gas supply and infrastructure projects in China. The company is listed on the London Stock Exchange, with its operational headquarters in Hong Kong.
Reed Smith’s Hong Kong office led on the M&A aspects of the deal with a team comprised of Denise Jong (partner), Delpha Ho (partner), Michael Pepper (partner), Linda Fung (associate) and May Wong (associate). As Fortune Oil is listed on the main market of the London Stock Exchange the UK capital markets advice was handled by the London team of Philip Taylor (partner), James Wilson (partner), Andrew Clark (associate) and Sara Lai (associate).
Denise Jong, Reed Smith’s lead Hong Kong partner on the transaction commented:
“At Reed Smith, we strive to provide our clients with seamless one-stop-shop advice across the globe and this matter is a great example of doing just that.
Given the nature of our platform Reed Smith is uniquely placed to advise the team on aspects of the deal in Hong Kong and London.”
ENDS
Note to Editors:
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Reed Smith is a global law firm, with 23 offices and more than 1,700 lawyers in offices across Europe, the Middle East, Asia and the United States.
For further information please visit www.reedsmith.com or contact Jeyda Star (PR Manager EME) on +44 (0)20 3116 2571.