Silver Yachts bought by Chinese Company

Superyacht Silver Fast

Australian superyacht builder, Silver Yachts was bought by Chinese company with legal heavyweight's aid.

MinterEllison has advised a Chinese aluminium company on its acquisition of an Australian superyacht builder.

The global firm advised China Zhongwang Holdings (CZH) on its acquisition of Silver Yachts Limited (SYL). CZH acquired the majority SYL stake via a Hong Kong subsidiary for an undisclosed amount.

SYL, a Cayman Islands holding group of companies, specialises in designing and building aluminium superyachts. Its production facilities are in Henderson, Perth in Western Australia.

MinterEllison fielded a team based in Perth to assist in the acquisition. The team was led by partners Adam Handley and Bryn Davis. They were assisted by senior associate and the firm’s China business executive director, Lili Pan, special counsel Tighe Whelan, and lawyer Kayla Giudicatti.

The core team was supported by other MinterEllison lawyers including Perth-based partners Gemey Visscher, Anthony Portas, John Fairbairn, Nicholas Pascoe, Kathy Reid, Craig Boyle, Gehann Perera, and Lee Rossetto.

Source:
Australasian Lawyer