Wragges leads sale of set top box firm to Chinese techco

CORPORATE finance experts from Birmingham law firm Wragge & Co have advised set top box supplier Harvard International plc on its takeover by China’s Chengdu Geeya Technology in a £23m deal.

It is believed to be only the second time that a UK listed company has been acquired by a Chinese listed company.

Hertfordshire-based Harvard International is a leading supplier of set-top boxes to the retail consumer market. It also offers a range of iPhone, iPod and iPad accessories under the iLuv brand. Wragge & Co was appointed in 2010 as its sole, full-service legal adviser.

Corporate partner and head of public companies team Julian Henwood led the Wragge & Co transaction team. The team worked closely with Harvard International’s CEO Mike Ashley and CFO Robert Thompson.

Henwood said: “This transaction was very novel and took 12 months to complete. Reaching a successful conclusion involved overcoming numerous challenges, not least that the Chinese regulatory regime required approval by four different regulatory bodies.”