Simpson Thacher & Bartlett and Allen & Overy have the lead roles on a $2.3 billion deal that will see Chinese state-owned Tsinghua University take a controlling stake in Hewlett-Packard’s server, storage and technology support services business in China.
Unisplendour Corp., a Shenzhen-listed subsidiary of Tsinghua’s holding company, will buy a 51 percent stake in a newly created joint venture known as the New H3C. The JV will comprise Hangzhou-based H3C Technologies Co. Ltd., a router manufacturer wholly owned by HP, and HP’s China-based server, storage and technology services businesses.
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