PRESS RELEASE
14 January 2013

Colin Ng & Partners LLP Advised China Auto Corporation Ltd

CL
CNPLaw LLP

Contributor

CNPLaw LLP  logo
Established in 1988, CNPLaw LLP (CNP) is a full -service law firm with a talent for cross-border business. With about 100 staff, including close to 40 lawyers, and a strong network of international contacts, the firm has the capability to deliver legal solutions in Singapore and beyond.
Colin Ng & Partners LLP acted for China AutoCorporation Ltd on the company's acquisition of 53,631 ordinary shares in the issued and paid-up share capital of Neftech Pte Ltd.
Australia

Colin Ng & Partners LLP (CNP) acted for China Auto Corporation Ltd ("the Company") on the Company's acquisition of 53,631 ordinary shares in the issued and paid-up share capital of Neftech Pte Ltd ("Neftech"), representing 25% of the issued and paid-up capital of Neftech, for S$47.77 million ("the Acquisition").

The consideration for the Acquisition was satisfied by the issue and allotment of 1,224,997,588 shares in the issued and paid-up capital of the Company to a group of sellers comprising inter alia, directors Quek Sim Pin and Victor Levin.

The Acquisition increased the Company's interest in Neftech to 48.9% and was completed on 27 July 2012. Neftech is primarily engaged in the development and commercialization of its proprietary cavitation technology solutions aimed at achieving fuel savings for marine vessels. The principal activities of the Company are in investment holding and contract works.

CNP Partner, Elaine BEH, led the legal team in the Acquisition assisted by Senior Associate Manager Joseph CHEW and Senior Associate WONG Pei-Ling.

PRESS RELEASE
14 January 2013

Colin Ng & Partners LLP Advised China Auto Corporation Ltd

Australia

Contributor

CNPLaw LLP  logo
Established in 1988, CNPLaw LLP (CNP) is a full -service law firm with a talent for cross-border business. With about 100 staff, including close to 40 lawyers, and a strong network of international contacts, the firm has the capability to deliver legal solutions in Singapore and beyond.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More