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HNA EcoTech Pioneer Acquisition acquires majority stake in Advanced Card Systems Holdings Limited

January 2017

Client(s) HNA Ecotech Group Co. Ltd.

Jones Day advised HNA EcoTech Pioneer Acquisition, an indirect subsidiary of HNA EcoTech Group Co., Ltd., in its acquisition of a 61.39 percent stake in Advanced Card System Holdings Limited ("ACS") for HK$521.8 million (US$67.3 million) and a subsequent mandatory unconditional cash offer of HK$328.2 million (US$42.3 million) to acquire all remaining shares. ACS develops and provides smart card operating systems and readers to facilitate the implementation of smart card-based systems for various applications and industries.

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