Gregory Puff Quoted in China Business Law Journal on Go-Private Trend
China Business Law Journal quoted Akin Gump Asia practice head and Hong Kong partner in charge Gregory Puff for its article “Giant Interactive flags continuing go-private trend from US market.”
The article states that Giant Interactive Group’s announced $3 billion go-private deal is the 14th transaction involving U.S.-listed Chinese companies and that these deals are likely to continue. “They might perceive a listing closer to the center of their operations as giving them greater access to additional capital,” said Puff. Akin Gump is acting for Duff & Phelps, a financial adviser to the special committee of Giant Interactive.
He went on to note another Akin Gump client, Gushan Environmental Energy, which went private in June 2012, has applied to list in Hong Kong: “I expect to see other companies follow them in the near or mid-term.”
Puff concluded in the article that he expects this trend to slow in the near- to mid-term, but that privatization will remain an alternative for U.S.-listed Chinese companies.