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Zhong Lun Advises Sunningdale Tech Ltd on the Privatization Financing
Zhong Lun Advises Sunningdale Tech Ltd on the Privatization Financing
On April 20, 2021, Sunningdale Tech Ltd (“Sunningdale Tech"), the listed entity of the group who is a precision plastic components manufacturer in Singapore, has been successfully privatized and has delisted from the Singapore Exchange. The privatization transaction was implemented through a Scheme of Arrangement. A renowned bank from Singapore has provided the facilities of several hundred millions Singapore dollar to the offeror jointly set up by Koh Boon Hwee, the chairman of Sunningdale Tach, and Novo Tellus PE Fund 2 for the aforesaid privatization transaction (the “Privatization Financing"). Several PRC material subsidiaries of Sunningdale Tech have provided multiple securities for the Privatization Financing.
Zhong Lun Law Firm acted as the PRC counsel for the lender and provided comprehensive legal services for this Privatization Financing, including innovative design of the security structure, preparation and negotiation of finance documents, assistance in the closing and tailor-made security arrangements to meet requirements of different registration authorities. The legal team was led by Shirley Lu, the partner of Zhong Lun, and the team members include Nina Zheng, etc.
Established in 1995, Sunningdale Tech listed on the Singapore Exchange in 2003 and delisted on April 20, 2021. Sunningdale Tech is a leading manufacturer of precision plastic components, having manufacturing facilities across the world and focusing on serving key business segments of Automotive/Aerospace, Consumer/IT, Healthcare and Tooling.
