O’Melveny Represents Buyer Group in Going Private Transaction of China XD Plastics
June 16, 2020
FOR IMMEDIATE RELEASE
BEIJING—June 16, 2020—O’Melveny is representing the controlling shareholder (“Buyer Group”) in the going private transaction of China XD Plastics Company Limited (Nasdaq: CXDC) (the “Company”). The Nasdaq-listed company engages in the development, manufacture, and sale of polymer composites materials primarily for automotive applications.
Pursuant to a merger agreement signed on June 15, 2020, the controlling shareholder will acquire all of the outstanding shares of the Company at a merger consideration equal to US$1.20 per share, representing an aggregate equity value of approximately US$80 million. The transaction is expected to close in the third quarter of 2020.
The O’Melveny team was led by partner Ke Geng and counsel Alan Bao, and included senior legal consultants Aaron Xin and Qianru Hong.
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Contact:
Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218
crieck@omm.com
Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com