News and Deals

Harneys is pleased to announce the continued expansion of its Asia practice with the addition of partner Charles Clayton-Payne to its Hong Kong Banking and Finance team this week.

Harneys is pleased to announce that Yin Xu joined as a transactional partner in our Hong Kong office. Yin joins the team from another offshore firm, where he was Partner in the Corporate team since 2016.

Harneys advised on the Cyprus law regulatory and tax aspects of the placing and sale of global depository receipts representing interests in class A shares in TCS Group Holding PLC (the parent company of Tinkoff Bank) by Altoville Holdings Limited, the joint-controlling shareholder of Russian consumer lender TCS Group, to raise US$150 million. Tinkoff Bank is one of the largest players in Russia’s credit card market. Morgan Stanley & Co. International plc acted as bookrunner in connection with the Placing.

Harneys has advised China Merchants Port Group Co., Ltd. (formerly Shenzhen Chiwan Wharf Holdings Limited), a PRC-listed, China based port services company (CMPG) in connection with its acquisition of Thesar Maritime Limited and its internal restructuring. Following the restructuring, CMPG became a controlling shareholder of China Merchants Port Holdings Company Limited, a Hong Kong-listed company whose ultimate holding company is China Merchants Group Limited.

Harneys has announced that British Virgin Islands’ Managing Partner Colin Riegels will step down on 30 June 2019 to return to full time academia. Partner Tanya Cassie-Parker will become the new BVI Managing Partner from 1 July 2019.

Leading global offshore law firm, Harneys, is pleased to announce that it acted as British Virgin Islands legal counsel to issuer Lv’an Chuangxing Limited, and its onshore counsel Allen & Overy on the issuance of US$200 million 6.375% Bonds due by 2020. The bonds are to be listed on Chongwa (Macao) Financial Asset Exchange Co.,Ltd. (MOX).