Gide, counsel to JCDecaux for the acquisition of a minority stake in Clear Media Limited, as part of a consortium of investors
17 April 2020
Deals | China | France | Tax
Gide has advised JCDecaux on the tax aspects of the acquisition of a minority stake, through its wholly owned subsidiary JCDecaux Innovate, in a consortium of investors which formed a special purpose vehicle to make a voluntary conditional cash offer to acquire all of the shares in the entire issued share capital of Clear Media Limited, a company listed on the Hong Kong Stock Exchange.
The offer price of HK$7.12 per share represents a total value of approximately HK$3,857 million for all Clear Media’s outstanding shares, of which 23% or HK$887 million will be funded by JCDecaux.
The consortium composes of Mr. Han Zi Jing, Chief Executive Officer of Clear Media (“Mr. Han”) at 40%, Antfin (Hong Kong) Holding Limited (“Antfin”) at 30%, JCDecaux at 23% and China Wealth Growth Fund III L.P. (“CWG Fund”) at 7%.
Gide's team that advised JCDecaux on the tax aspects of the transaction comprised partner Olivier Dauchez in Paris and partner Guo Min in Beijing.