Maples Advises on One of the Largest Taiwan Company Privatisations
Maples and Calder, the Maples Group’s law firm, is pleased to have advised Ginko International Co., Ltd. (“Ginko”) and the special committee of the board of directors of Ginko, on its take-private by a buyer consortium comprising of Baring Private Equity Asia, New Path International Co., Ltd. and Hydron International Co., Ltd. and the financing of the take-private. Completed on 29 April 2022, the transaction is valued at US$976.43 million and is considered one of the largest privatisation of a listed company in the Taiwan consumer market.
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Ginko, a Cayman Islands company previously listed on the Taipei Exchange, develops and manufactures contact lenses and contact lens care products. It is the biggest contact lens supplier in Taiwan and China.
A team of corporate lawyers based in the firm’s Hong Kong office acted as Cayman Islands counsel to Ginko and was led by Corporate Partners Richard Spooner and Juno Huang with assistance from Corporate Associate Vivian Lee and Corporate Legal Manager Janelle Ho.
C&A Law Firm and Kirkland & Ellis acted as legal advisers to Ginko and the special committee. Baker & McKenzie LLP acted as legal advisers to Hydron International Co., Ltd. and New Path International Co., Ltd. Lee and Li, Attorneys-at-Law acted as legal advisers to Baring Private Equity Asia.
The Asia Corporate team has extensive experience advising on notable take-private transactions, including the recent US$4.3 billion take-private of 51job, Inc.