Advising on acquisition financing relating to Aphrodite Acquisition Holdings LLC’s acquisition of Hugel Inc.

Lee & Ko has successfully advised a syndicate of lenders including NH Investment & Securities Co., Ltd. (being both the original lender and the mandated lead arranger) on financing for acquisition of controlling equity interests in Hugel Inc. by Aphrodite Acquisition Holdings LLC (being an SPC set up by a consortium of investors consisting of CBC Group, Mubadala, GS and IMM). 

Lee & Ko’s team of lawyers advised the lenders on all stages of the transaction from the initial bidding until the post-closing syndication. Throughout the entirety of the transaction, their scope of legal advice included, without limitation, formulating a deal structure, reviewing and negotiating key terms and conditions, drafting and negotiation all transaction documentation (including the facilities agreements (for both senior and junior), the security documents, the intercreditors agreement and all other documents related or ancillary to the acquisition financing), providing timely input and analysis on key legal and regulatory issues, attending to all pre- and post-closing matters accompanying the acquisition financing and advising on post-closing syndication-related issues.  With decades of deal experiences and expertise in acquisition financing under their belt, Lee & Ko’s team of lawyers were able to respond quickly to the changes to the deal structures and the corresponding changes to the commercial terms and conditions, whilst streamlining the parties’ commercial and legal interests and also, reflecting the outcome of the long, drawn-out negotiations between the parties in the transaction documentation. Their ability to spot, analyze and provide most optimal solutions to, and their flexibility to maneuver through, some of the most complex issues pertaining to the transaction (including those relating to the requirements for a lock-up following a change to the largest shareholder and the obligations under foreign exchange-related laws and regulations) were demonstrated at many critical junctures of the transaction.

This transaction was led by Myoung Chul Kwak, Eui Yeon Jo and Jun Hee Choi, and assisted by Kyung Won Han.