Highpower’s Going-Private Transaction

O’Melveny represented Essence International Financial Holdings Limited (“Essence International”) in its participation in a consortium to acquire Highpower International, Inc., a China-based Nasdaq-listed company, for a company valuation of approximately US$75 million, through a triangular merger.

The closing of the merger took place on October 31, 2019.

Highpower manufactures and sells Lithium-ion and Ni-MH rechargeable batteries. Its businesses also include the design and production of advanced battery packs and systems. Essence International is the Hong Kong-based wholly-owned subsidiary of Essence Securities, a leading PRC securities firm based in Shenzhen.

The O’Melveny team was led by partners Ke Zhu (Picture) and Ke Geng and senior legal consultant Aaron Xin (with support from legal consultant Shanon Shen). Partners Nima Amini and William Pao also provided advice on potential litigation issues.

Involved fees earner: Nima Amini – O’Melveny & Myers LLP; Ke Geng – O’Melveny & Myers LLP; William Pao – O’Melveny & Myers LLP; Aaron Xin – O’Melveny & Myers LLP; Ke Zhu – O’Melveny & Myers LLP;

Law Firms: O’Melveny & Myers LLP;

Clients: Essence International Financial Holdings Limited;

Author: Michael Patrini