Paul Hastings Advising Shuanghui on $6 Billion IPO
Paul Hastings, which advised Chinese meat processor Shuanghui International Holdings Ltd. on its $7.1 billion takeover of Smithfield Foods Inc. last May, will also represent the company on an upcoming $6 billion Hong Kong initial public offering.
Shuanghui is expected to apply as early as next week to list on the Hong Kong Stock Exchange, according to the South China Morning Post, which cited sources familiar with the matter. A listing, which would include Smithfield, would follow no later than April, the newspaper reported.
Last spring, Shuanghui agreed to pay $34 a share for Richmond, Va.-based Smithfield, the world's largest pork processor. Paul Hastings Hong Kong partners Raymond Li and Vivian Lam acted for the company on the deal.
Cleary Gottlieb Steen & Hamilton is acting for the underwriters, which reportedly include China Citic Securities, BOC International, Goldman Sachs, UBS AG, Morgan Stanley and Standard Chartered.
Paul Hastings and Cleary declined to comment. A Hong Kong-based spokesperson for Shuanghui did not return a request for comment.