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Eversheds Sutherland hits the high notes for AID Partners with HMV Asia purchase

  • Hong Kong

    28-02-2013

    The Hong Kong and Singapore offices of global law firm Eversheds Sutherland have advised AID Partners Capital Limited (“AID Partners”), on its acquisition of the entire stake in HMV Hong Kong, Singapore and Greater China (“HMV Asia”), an fentertainment retailer with operations in Hong Kong and Singapore.

    AID Partners is a private equity firm focused on buyout opportunities and expansion capital primarily in media and entertainment, retail and consumers.

    HMV Asia is a premier reseller of entertainment and entertainment-related products, which comprises music, visual, games and other media related products. It carries on business through its six stores in Hong Kong and two in Singapore all in prime locations, in addition to its online platform.

    AID Partners also injected substantial amount of working capital into the business. The management team of HMV Asia remain unchanged.

    The Eversheds Sutherland team was led by Asian corporate partners Stephen Mok (Hong Kong), Norman Hui (Hong Kong), Stephen Kitts (Hong Kong), Sze Hui Goh (Singapore) and TMT/IP partner, Nigel Stamp (Hong Kong).

    Stephen Mok, Head of Corporate, Asia commented:

    “This is an exciting deal which will benefit all involved. We look forward to advising on further investment opportunities with AID Partners as things begin takes shape for the business.”

    Kelvin Wu, Principal Partner of AID Partners commented:

    “HMV is a legendary brand and its business in Hong Kong and Singapore is still very strong, and we see many exciting opportunities ahead where we would be able to leverage AID Partners’ deep experience in the entertainment industry across the region. It’s essentially a perfect fit.

    "We had to move very quickly to capture this opportunity and we were very impressed by Eversheds Sutherland’ ability to mobilise such a dedicated and committed team of experts in Asia, within such a short period of time.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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