Eversheds has advised private equity firm AID Partners Capital Ltd (AID Partners) on its purchase of British music and video retailer HMV’s Hong Kong and Singapore operations for an undisclosed amount.
AID Partners has also bought HMV’s licences for mainland China, Macau and Taiwan, and has injected a substantial sum of working capital into the business. HMV Asia’s management team remains unchanged, and the company will continue operating its six stores in Hong Kong and two in Singapore.
The Eversheds team was headed by Hong Kong corporate partners Stephen Mok, Stephen Kitts and Norman Hui, TMT/IP partner Nigel Stamp, and Singapore-based partner Sze-Hui Goh.
Linklaters acted for the administrators of HMV in the UK.
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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