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Court documents detail Evercore’s ties with ex-Hwa Hong director and how the investment bank was appointed

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Raphael Lim

Raphael Lim

Published Tue, Apr 18, 2023 · 06:25 PM
    • Hwa Hong filed a suit against Evercore and four of its former directors in February. The case was last mentioned in a case conference on April 12.
    • Hwa Hong filed a suit against Evercore and four of its former directors in February. The case was last mentioned in a case conference on April 12. PHOTO: BT FILE

    HWA Hong Corporation’s former director David Ong engaged investment bank Evercore to sell his shares in the company in September 2021, before a privatisation offer was made for the firm in May 2022.

    After the offer was announced, Evercore was picked as Hwa Hong’s financial adviser (FA) out of four potential firms.

    These are among the details that have come out of a legal dispute between Evercore and Hwa Hong, after the latter was privatised by a consortium, Sanjuro United.

    hwa hongPrivatisationFinancial advisoryCorporate fundingDisputesSupreme Court

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