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Zhong Lun Advises HK listed Burwill Holdings Limited on Acquisition of Magnetic Iron Ore Businesses in China
Zhong Lun Advises HK listed Burwill Holdings Limited on Acquisition of Magnetic Iron Ore Businesses in China
Burwill Holdings Limited, a company listed in Hong Kong (Stock Code: 24) has recently, through its wholly owned subsidiary Burwill Minerals Limited, acquired 51% of the issued share capital of Tai Xin Investment Limited, a company incorporated in the British Virgin Islands. The total consideration amounted to HK$500 million, comprising HK$260 million in cash and issue of shares.
Zhong Lun acted for Burwill Holdings Limited as PRC counsel in connection with the above acquisition. The team was led by Catherine Guo, a corporate partner at this firm, with assistance from David Cheng and other associates.
Tai Xin is an investment holding company whose principal asset is its equity interest in Qingdao Tai Xin Mineral Company Limited and its subsidiaries, which principally engage in exploration, production and sales of lumpy iron ores and iron ore fines.