Herbert Smith has recently advised Hanergy Group, one of the largest clean energy enterprises in China, on its US$150m acquisition of a 23% stake in Hong Kong-listed Apollo Solar Energy Technology Holdings by way of share subscription.  By completion of the transaction, Hanergy Group will become the largest shareholder of Apollo Solar.

As part of the strategic investment, Hanergy has also made equipment purchase of US$2.55bn from Apollo Solar.

Herbert Smith has recently facilitated several major acquisition deals in the energy sector. Earlier this year, the firm along with its Dutch alliance Stibbe, advised China National Petroleum itsUS$1.6bn stake acquisition from Syria Shell Petroleum. ALB

Related stories:

• CNPC – Shell Syria acquisition represents a “natural” deal flow between PRC and the Middle East (3 June 2010)
• Herbies stands by CNOOCin LNG deal (30 March 2010)