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Up Energy Group and Up Energy Holding complete capital restructuring and debt financing in connection with Tidetime Sun (Group) business combination

January 2011

Client(s) Up Energy Investment (China) Limited

Jones Day advised Up Energy Group Ltd and its controlling shareholder Up Energy Holding Ltd, both holding companies with mining assets in Xinjiang, China, in a capital restructuring and senior debt financing as part of their business combination with Tidetime Sun (Group) Limited, a company listed on the Hong Kong Stock Exchange. The assets were acquired by Tidetime Sun (Group) Limited in the business combination for an aggregate consideration of HK$7.8 billion (US$1.0 billion) in the form of Convertible Bonds. Following the business combination, Tidetime Sun (Group) Limited was renamed Up Energy Development Group Limited, with Up Energy Group being its single largest shareholder.

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