The deal, with an enterprise value of about US$4 billion, is one of the biggest overseas M&A transactions by a non-financial China-listed firm
The KWM team was led by partners Xu Ping, Pan Yujia, Wang Jianxue, Lv Yinghao, Huang Wen, Yang Xiaoquan and Liu Cheng.
Skadden, Arps, Slate, Meagher & Flom also advised Apex while Lexmark was represented by fellow US biglaw Wachtell Lipton Rosen & Katz, according to Reuters.
Apex and PAG Asia Capital led a group of investors including Legend Capital to acquire 100% of Lexmark. The deal is the biggest outbound transaction from China in the print industry yet and one of the biggest overseas M&A transactions by a non-financial Chinese listed company.
Apex is a Shenzhen-listed supplier of aftermarket printer consumables, aftermarket consumable chip and core components. Lexmark, headquartered in Lexington, Kentucky, is a global company focused on printing and imaging solutions, enterprise software, hardware and other services, with a network across more than 170 countries.
The deal involves a China-listed company’s acquisition of a US-listed company, and therefore is required to comply with legal and regulatory requirements both in China and the US.
KWM advised in myriad aspects including during the processes of preparation of terms of delivery to obtain CFIUS’ approval, investors’ investment arrangement, and the implementation of a loan financing.
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