Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
08.20.26
Pillsbury advised Chengdu Sefon Software Co., Ltd., a Chinese technology company, in connection with its acquisition, through its wholly owned Hong Kong acquisition vehicle Hong Kong Weiye Software Co., Limited, of a 74.91% stake in SG Group Holdings Limited at a consideration of approximately HK$200 million. SG Group Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (stock code: 1657.HK)
In connection with the transaction, a general offer was made pursuant to the Hong Kong Code on Takeovers and Mergers for the remaining shares of SG Group at HK$8.323 per share, representing a maximum potential offer consideration of approximately HK$66.83 million.
Upon closing of the general offer, Sefon chairman Zha Wenyu was appointed chairman of SG Group, Wang Chunbin was appointed chief executive officer, and other Sefon executives joined SG Group’s board.
The Pillsbury deal team was led by Corporate partner Jia Yan, co-chair of the firm’s Greater China practice, and associate Una Zhang and included partner Samuel Ng and associates Stefan Chan and Yanqiu Liu.