Norton Rose Fulbright advises China Water Affairs on RMB1.5 bn investment by Taikang Asset

Global law firm Norton Rose Fulbright has advised China Water Affairs Group Limited (China Water Affairs) on Taikang Asset’s RMB1.5 billion (c. US$207 million) equity investment in its subsidiary Silver Dragon Water Affairs.

China Water Affairs is listed on the Main Board of the Hong Kong Stock Exchange and is principally engaged in city water supply, pipeline direct drinking water supply and environmental protection businesses in the PRC.

Taikang Asset is a leading asset management company in the PRC and a wholly owned subsidiary of Taikang Insurance Group. Taikang Insurance Group is an insurance and financial service conglomerate focused on insurance, asset management and health and elderly care businesses in the PRC and a Fortune Global 500 company for seven consecutive years since 2018.

The equity investment brings to China Water Affairs a strategic investor and represents a significant milestone for the company’s further growth and future expansion. The equity investment constitutes a disposal and disclosable transaction under the Hong Kong Listing Rules.

The Norton Rose Fulbright team advising on the transaction was led by its Head of Hong Kong, Psyche Tai, with support from senior associate Patrick Wong.

Psyche Tai said:

"We are delighted to have advised our client China Water Affairs on this significant equity investment by Taikang Asset. This transaction marks a major milestone for China Water Affairs and Silver Dragon Water, enabling further growth and expansion. Our team’s experience in navigating complex corporate transactions ensured a smooth process and we are thrilled to have been a part of this strategic investment."         

Norton Rose Fulbright’s global corporate, M&A and securities practice advises corporations and financial institutions across the full spectrum of industry matters, including public takeovers, private M&A, joint ventures, disposals, debt and equity capital markets, governance, general commercial and corporate advisory matters. The firm’s lawyers have a broad range of experience representing all parties in capital markets transactions, including issuers, underwriters, placement agents and selling shareholders.