Walkers Advises on the Take Private and Delisting of Clear Media Limited

Walkers acted as Bermuda and Cayman Islands counsel in connection with the take private of Clear Media Limited ("Clear Media") and its delisting from the Hong Kong Stock Exchange.

Clear Media is the largest operator of bus shelter advertising panels in China with leading market shares of more than 70% in top-tier cities. All remaining shares of the company were acquired by a consortium of investors through Ever Harmonic Global Limited (the "Offeror"). The consortium comprises Mr. Han Zi Jing, Chief Executive Officer of Clear Media, Antfin (Hong Kong) Holding Limited, JCDecaux Innovate, and China Wealth Growth Fund III L.P. Following the take private, Aimia Inc. (TSX:AIM) also holds about 10% in the Offeror which now wholly-owns Clear Media. The offer was valued at approximately HK$3,857,000,000.

Partners Kristen Kwok, Jo Lit, Natalie Neto, Jonathan Betts, senior associate Kate Pang and legal manager Beverly Lui acted for Offeror while partner Rupen Shah and associate Benjamin Green acted for the Lender.