Edward Freeman

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Shanghai Henlius Biotech, Inc. (‘Henlius’), a biopharmaceutical company listed on the Hong Kong Stock Exchange (Stock Code: 2696), on its proposed privatisation by Shanghai Fosun New Medicine Research Company Limited by way of merger by absorption. The transaction is subject to various conditions, including amongst others independent shareholder approvals. The Freshfields team was led by partners Edward Freeman, Grace Huang and David Yi, supported by senior associate Kelly Huang, and associate Haohan Li.

Jul 2

1 min

Freshfields represented Verlinvest S.A. in connection with a comprehensive financing by Oatly Group AB (“Oatly”), consisting of the issuance of $300 million aggregate principal amount of 9.25% Convertible Senior PIK Notes due 2028, a new $130 million Term Loan B Credit Facility and an amended Sustainable Revolving Credit Facility. Oatly is the world’s original and largest oatmilk company. For over 25 years, they have focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Their commitment to oats has resulted in core technical advancements that enabled them to unlock the breadth of the dairy portfolio, including milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks. The Freshfields team for the transaction included Partners Michael Levitt, Sebastian Fain, Mary Eaton and Joe Soltis, Counsels Taryn Zucker, Jeremy Barr and Stephanie Brown Cripps, Senior Associate Aashim Usgaonkar and Associates Heather Kellam, Prince Kudolo, Kevin Meehan and Zhanqi Xu out of our New York office. In London, the team included Partners Carol Van Der Vorst and Tom McGrath, Senior Associate Max Frolov and Associates Terence Ayres, Akua Danso and Brandall Nelson. In Hong Kong, the team included Partner Edward Freeman and Associate Daria Park. In Washington D.C., the team included Partner Justin Stewart-Teitelbaum, Counsel Meytal McCoy and Associate Emily Abbott. In Brussels, the team included Partner Thomas Janssens, Counsel Alicia Van Cauwelaert and Senior Associate Michael Bo Jaspers.

Apr 24

1 min

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised on the auction sale of the diamond-grading and consulting firm International Gemological Institute (‘IGI’) to Blackstone for a total consideration of US$569.65m. Freshfields advised Yu Jing Industrial Limited (‘Yu Jing’), a subsidiary of Fosun International, on the sale of 80 per cent of the shares in IGI, which were held by Alpha Yu B.V., for approximately US$455.7m. The remaining 20 per cent of the shares in IGI was sold by Lorie Holding, a wholly-owned subsidiary of the founding Lorie family, for approximately US$113.8m. Yu Jing is a subsidiary of Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. which is listed on the Shanghai Stock Exchange and is the flagship platform of Fosun International’s consumer sector. Fosun International is one of China’s largest non-state conglomerates with businesses including consumer, healthcare, property, financial services and mining. Founded in 1975 in Antwerp, IGI is a global leader in independent certification of diamonds, gemstones, and jewellery, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. The deal, which was unconditional, signed and closed on 19 May 2023 and involved a simultaneous share transfer in the three holding entities of IGI based in the Netherlands, Belgium, and India. This sale followed four years of successful growth in IGI’s business, which Alpha Yu initially purchased back in 2018. The Freshfields team advising on the transaction was led by partner Edward Freeman, supported by senior associate Clara Chang and associate Daria Park. This core team was supported by a large and multidisciplinary team of lawyers across Freshfields’ Amsterdam, Brussels, New York City and Abu Dhabi offices. Chinese law advice was provided by Chinese firm RuiMin, which is part of Freshfields’ StrongerTogether network of leading domestic law firms. About Freshfields Bruckhaus Deringer Freshfields Bruckhaus Deringer is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.

Jun 1

2 min

Global law firm Freshfields is advising ESR Group Limited (‘ESR’) on its proposed privatisation from the Hong Kong Stock Exchange by a consortium led by Starwood Capital Group, Sixth Street and SSW Partners (and which also includes QIA, Warburg Pincus, and the founders of ESR) by way of scheme of arrangement.  Additional information is available here. The proposed transaction values ESR at HK$55.2 billion (approximately US$7.1 billion) on an equity value basis, making it the largest privatisation from the Hong Kong Stock Exchange since 2021. Upon the scheme of arrangement becoming effective, the consortium offeror will own 100 per cent of ESR. The proposed privatisation is subject to various conditions, including approval by independent shareholders and regulators. ESR is Asia-Pacific’s leading new economy real asset manager and one of the largest listed real estate investment managers globally. The Freshfields team advising on the transaction was led by partners Edward Freeman and Grace Huang and counsel Danny Li, with support from counsel Cindy Kwong, senior associate Dickson Chan and associate Eric Cheung. Partner Matthew O’Callaghan and associate Lu Feng are advising on regulatory issues, counsel Stephanie Chiu is advising on employment issues, partners Christine Laciak and Aimen Mir are advising on US law matters, and partner Alastair Mordaunt, counsel Laurent Bougard and associate Ziqi Zhou are providing foreign investment and antitrust advice. Partner Daniel Cendan, counsel Matthew Haggans and associate Alice Jeon are advising on compliance matters.

Dec 6

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising DP World, a world leader in global supply chain solutions based in Dubai, on its proposed acquisition of 100 per cent of the Cargo Services Seafreight business. The transaction involves the indirect acquisition of a majority stake in CN Logistics International Holdings Limited, a company listed on the Hong Kong Stock Exchange. The transaction is conditional on certain regulatory approvals and is expected to close later this year. The Freshfields team is led by partners Edward Freeman and Michael Hilton, supported by counsel Daniel Boyle, associates Ciara O’Loughlin, Max Chapman, Kelly Huang and Haohan Li. Support with due diligence was provided by various Freshfields offices across the network. Tax advice is provided by partner Peter Clements, senior associate Chris Gotch and associate Christophoros Tsangarides.

Apr 18

1 min