Offshore law firm Mourant Ozannes has advised China CITIC Bank Corporation and the Export-Import Bank of China on facilities with a total commitment of around US$2.63bn, for a consortium led by Apex Technology Co, PAG and Legend Capital Management Co.
The facilities support the consortium's acquisition of Lexmark International, a US-incorporated printer and software manufacturer.
Lexmark was acquired in an all-cash transaction with an enterprise value of US$4bn. The acquisition closed in November 2016 and is said to be the second largest outbound in the technology sector ever completed by a Chinese investor.
Apex Technology designs, manufactures and markets inkjet and laser cartridge components for re-manufacturers and distributors. The company is headquartered in Zhuhai, Guangdong, China.
Mourant Ozannes Partner Simon Lawrenson said: "Apex's acquisition of Lexmark reflects a wider trend we've seen throughout 2015 and 2016 of a surge in Chinese outbound M&A activity, and was one of the largest Asian investments in the US in the past 12 months."
The Mourant Ozannes team, which advised on the Cayman law aspects of the deal, was led by Partner Simon Lawrenson, with Associate Paul Trewartha.