Ashurst represented Home Control International Limited ("Home Control", SEHK: 1747) on the mandatory unconditional general cash offer (the "Offer") for all the issued shares of Home Control made by Emperor Corporate Finance Limited on behalf of Meta-Wisdom Tech Limited (the "Offeror") as the offeror pursuant to Rule 26.1 of the Hong Kong Code on Takeovers and Mergers (the "Takeovers Code").
The Offer follows a sale and purchase agreement dated 24 June 2025 between the Offerors and NHPEA IV Home Control Netherlands B.V. (the "Seller"), under which the Offeror agreed to acquire a 74.02% stake in Home Control for an aggregate consideration of approximately HK$230 million (equivalent to HK$0.6133 per share). Completion of the sale and purchase took place on 24 June 2025. In accordance with the Takeovers Code, the Offeror is required to extend a mandatory cash offer for all remaining shares of Home Control at HK$0.616 per share, representing a premium to the consideration under the sale agreement. Closing of the Offer took place on 5 August.
Home Control is a leading provider of smart home control solutions, distributing advanced devices and platforms worldwide. The Offeror has indicated that Home Control will remain listed following completion of the offer and intends to continue the company's existing operations while exploring additional opportunities to enhance growth and diversify revenue streams.
Lead partner Frank Bi commented: "We are pleased to have advised Home Control on this significant transaction, which marks an important milestone for the company. We look forward to seeing Home Control continue to develop its business and explore new opportunities following the acquisition."
The Ashurst team was led by Asia head of corporate transactions Frank Bi, supported by counsel Christy Li and associate Matthew Wong.
