Ogier in Guernsey advises on US$7.1 billion take-private of ESR Group Limited

Ogier's Corporate team in Guernsey has advised a consortium led by Starwood Capital Group, Sixth Street, and SSW Partners on its privatisation of ESR Group Limited by way of a scheme of arrangement from the Hong Kong Stock Exchange.

The transaction valued ESR at HK$55.2 billion (approximately US$7.1 billion) on an equity value basis, making it the largest privatisation from the Hong Kong Stock Exchange since 2021. The consortium also included QIA, Warburg Pincus, the founders of ESR and has received co-investment equity commitments from highly reputable institutional investors who will be investing through both Starwood Capital and Warburg Pincus-managed vehicles, including Alpha Wave Global and a leading Asia public pension investor.

The Ogier team was led by partner Bryon Rees, counsel James Walsh and supported by associate Tobi Oluborode. The team advised on all Guernsey corporate, finance and regulatory law aspects in relation to the transaction, working with Kirkland & Ellis LLP and Latham & Watkins LLP as lead counsel to the Consortium.