Lexcel Partners has been seen in a number of spin-off and M&A transactions this year. In response to the government policy and contractual requirements, HSBC sought the firm's advice on its proposed formation of a subsidiary bank....
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Lexcel Partners has been seen in a number of spin-off and M&A transactions this year. In response to the government policy and contractual requirements, HSBC sought the firm's advice on its proposed formation of a subsidiary bank. The transaction successfully demerged the assets, liabilities, and branch operations into the new subsidiary, totalling NT$20 billion ($610 million).
The firm advised Mitsui Sumitomo Insurance (MSI), which spun off its businesses, assets, and debts of its Taipei branch office to subsidiary Mingtai Insurance Company. The subsidiary subsequently issued $42 million new shares to its parent company, MSI, to complete the transaction. Lexcel lawyers also assisted Merrill Lynch on the de-merger of its Taiwan branch's business to establish a newly incorporated subsidiary worth NT$1 billion ($30.5 million)
Notable merger deals for the firm include its counsel for China Life's acquisition of assets from Prudential Life Insurance Company of Taiwan, amounting to NT$5 billion ($153 million), and the takeover of all shareholdings in Gala Television Corporation by MBK Group, which consulted the firm in the $100 million transaction. Other samplings include representation for Longreach Edith Cooperatief 3 on the acquisition of 2.5% shares in EnTie Commercial Bank through a $26 million tender offer and GIC Real Estate's $196 million cash merger with TDC through its subsidiary New Taimall Global Company.
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