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6 Sep 2016

The transaction of GOME Holdings Group’s ("GOME Holdings") transfer of equity interests in GOME Xinda Commercial Factoring Co., Ltd. ("GOME Xinda") to Sino Credit Holdings Limited (00628.HK, "Sino Credit"), a company listed on Hong Kong Stock Exchange, has been approved recently.

On 19 February 2016, Sino Credit released an announcement to disclose the aforementioned transaction. On 18 February 2016, Sino Credit signed an Equity Transfer Agreement to acquire, through its wholly-owned subsidiary Excellent Sino Limited, the entire equity interests in GOME Xinda held by GOME Finance Holding Investment Co., Ltd., a subsidiary of GOME Holdings. The acceleration of developing GOME Holdings' financial sector through strategic cooperation with Sino Credit, a group also engaged in the financial services industry, helps to offer an imaginary space for the financial business line of GOME Holdings.

Guantao served as the PRC legal counsel for GOME Holdings throughout the whole transaction, by providing Chinese legal supports in deal structure design, commercial negotiations, transaction documents preparation and negotiations, transaction process, the response to the related questions raised by HKEX and other aspects. Guantao partner Ms. Xu Ling led the team, which was supported by lawyers Mr. Chen Xiaochuang, Ms. Xi Chenlin, Ms. Yu Jiazi and other team members.