Stephenson Harwood & Lo advises CVC Asia Pacific on HK$740 million exit

Stephenson Harwood & Lo (SHL) continued to represent the buyout firm, CVC Asia Pacific, this time on its exit from Asia Printers Group Ltd. After signing a definitive agreement with R.R. Donnelley & Sons Company (NYSE: RRD) on 5 June 2005 for the sale of Asia Printers Group Ltd. to RRD, completion took place on 7 July 2005. The sale was for a cash consideration of HK$740 million, subject to adjustments.

Led by Managing Partner, John Gale, the SHL team comprised of Allen Wong, Iris Shum, Daniel Wan and June Pun on the corporate side, and Owen Chan and Sunny Chan on the finance side. Ian Devereux provided property law advice.

John, Allen and Owen originally advised CVC Asia Pacific on its leveraged buyout (through Asia Printers Group Ltd.) of the commercial printing business of Sing Tao Holdings Ltd. in 2002 and on its subsequent corporate reorganisation and re-financing in 2003.

"This transaction clearly demonstrates our strength in advising on significant LBO transactions, from inception to exit," according to Allen Wong, partner of SHL.

John Gale commented; "This completion validates SHL's ability to punch above its weight and manage sophisticated cross-border transactions in Hong Kong and China by combining multi-disciplinary advice in a seamless delivery."

August 2005

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