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Advising Trustar Capital on the US$327 million acquisition and take‑private of Nasdaq-listed Smart Share Global Limited

May 28, 2026

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We acted as Cayman Islands counsel to Trustar Capital as a member of the buyer consortium in connection with the US$327 million acquisition and take-private of Nasdaq listed Smart Share Global Limited (Energy Monster), a leading provider of mobile device charging solutions in China.

Integrated legal and corporate services for complex cross border transactions

The team, led by Investment Funds & Corporate partner John Cartwright, supported by senior associate Flora Lo and senior paralegal Lirann Tse, has been working closely with Celia Ng and the wider Walkers Professional Services team. 

Commenting on the deal, John Cartwright said: ‘Congratulations to Trustar Capital, the buyer consortium, Energy Monster and other stakeholders on the successful completion of this transaction. The take‑private provides greater flexibility to support Energy Monster’s next phase of growth outside the public markets and underscores the continued momentum of sponsor‑led public‑to‑private activity in the equity capital markets.’

Trustar Capital is a leading private equity firm in Asia, with the most established buyout platform in China. With offices in China, Japan and the United States, Trustar Capital has built a global track record of investing in companies which demonstrate the potential to capitalise on the growth and productivity of the Chinese economy.

Delivering seamless and integrated legal and corporate services for a Cayman Islands take‑private of a Nasdaq‑listed company

Energy Monster was acquired by a consortium led by Trustar Capital, alongside certain Energy Monster executives, by way of a Cayman Islands statutory merger. Following completion of the merger, Energy Monster ceased to be a publicly listed company on the Nasdaq. 

In addition, we have also been advising Trustar Capital on various post-closing transactions supported by Walkers Corporate Limited as registered office provider to the merger entities.

We support private equity sponsors, consortium buyers and corporates on complex corporate and M&A transactions across key markets, including take‑privates, statutory mergers and other cross‑border deals involving listed companies.

Asset Management & Investment FundsCorporate, Mergers & AcquisitionsHong Kong

MEDIA CONTACT

Shana Ray

Head of Business Development - Asia and Middle East

T/+852 2596 3302
M/+852 9030 6084
E/Email Shana Ray

KEY CONTACTS

Get in touch with our team

John Cartwright
John Cartwright

John Cartwright

Partner

Hong Kong

T

+852 2596 3336

M

+852 9858 7190

E

Email John Cartwright
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Flora Lo
Flora Lo

Flora Lo

Senior Associate

Hong Kong

T

+852 2596 3469

M

+852 9225 7817

E

Email Flora Lo
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Lirann Tse
Lirann Tse

Lirann Tse

Senior Paralegal

Hong Kong

T

+852 2596 3463

E

Email Lirann Tse
View profile

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