Recently, the transaction in which Beijing NavInfo Technology Co., Ltd. ("NavInfo") subscribed for Class C+ preferred shares issued by PhiGent Robotics Limited ("NavInfo Cayman") with cash and equity of its domestic subsidiaries as consideration has attracted widespread attention in the industry. After the transaction is completed, NavInfo will build an intelligent driving business platform covering the entire product line , which will significantly enhance its core competitiveness and market position in the field of intelligent driving.
This transaction involves multiple entities in different jurisdictions, including mainland China, Hong Kong, and the Cayman Islands, and includes multiple transaction stages such as overseas investment, domestic financial assistance, and domestic and overseas equity transfer. However, the efficient overall solution with direct cross-border share swap at its core has significantly shortened the transaction process and reduced transaction costs.
As the lead legal counsel for NavInfo , Tian Yuan, through its Beijing office in conjunction with its Hong Kong office, spearheaded the entire legal service process for this project. This included scheme design, feasibility studies, legal due diligence, transaction document preparation and negotiation, as well as determining approval procedures, standardizing information disclosure, and confirming closing conditions. This project is another representative example of Tian Yuan fully leveraging the synergistic advantages of its Beijing and Hong Kong operations, and the successful implementation of the cross-border share swap provides another exemplary model for Chinese companies going global.
In this project, Tian Yuan's Beijing office was led by Senior Partner Yang Ke, with Partner Liu Yiming and Attorney Han Xu assisting in its completion. Tian Yuan's Hong Kong office was led by Senior Partner William Ji, with Senior Attorneys Chen Zi and Hu Han assisting in its completion.
As the issuer's lawyer for NavInfo 's A-share IPO in 2010, Tian Yuan has provided NavInfo with comprehensive professional legal services for 15 years, witnessing NavInfo's gradual transformation from a map data provider to an intelligent driving company integrating high- precision data and intelligent software, which is a great honor.
