Clifford Chance is advising Chinese brokerage Haitong Securities Co. Ltd. on its proposed $715 million acquisition of a Chinese financial leasing business controlled by U.S. private equity firm TPG Capital.
A subsidiary of Haitong plans to buy TPG’s UT Capital Group Co. Ltd., which operates two financial leasing businesses that serve small and medium-sized companies in China. The all-cash deal will give Haitong the opportunity to diversify away from its main brokerage business.
Hong Kong partner Cherry Chan is leading the Clifford Chance team advising Haitong.
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