DEALS

Zhong Lun Advises Ascendent on Privatizing Hollysys

Release time：2024-07-26 Voice Announcements

On July 25, 2024, Hollysys Automation Technologies Ltd. (Nasdaq: HOLI), a leading automation control system solutions provider in China, announced that it had completed the merger transaction with entities affiliated with Ascendent Capital Partners. The all-cash acquisition is valued at approximately USD 1.66 billion, and upon its completion, the shares of Hollysys will be delisted from the NASDAQ Global Select Market.

Zhong Lun Law Firm acted as the PRC legal counsel to Ascendent Capital throughout this transaction since August 2021. The legal team was led by partners Anthony Zhao and Luke Zhang, with the support from partners Scott Yu and Frank Jiang for relevant PRC regulatory approvals, and from partner Shirley Lu for acquisition financing. The team members also included associates Cynthia Yuan, Jason Zhan, Elaine Ye, Ruby Zheng, Roujia Miao, Claire Yang, and Jiayi He.

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Zhong Lun Advises Ascendent on Privatizing Hollysys