Asia-Pacific (China) Investment Management Ltd entered into a memorandum of understanding to acquire Jiangsu Shunfeng Photovoltaic Technology Co., Ltd. from Shunfeng International Clean Energy Limited (SEHK:1165) for CNY 5 billion on May 31, 2016. The deal is subject to the entering into of definitive and legally binding documents, including a sale and purchase agreement. The deal is subject to the fulfillment of certain conditions precedent, including completion of due diligence, completion of valuation, shareholder approval, governmental and regulatory approvals, consents from relevant third parties. Jason Sung from Herbert Smith Freehills acted as legal advisor for Shunfeng International Clean Energy Limited. Asia-Pacific (China) Investment Management Ltd cancelled the acquisition of Jiangsu Shunfeng Photovoltaic Technology Co., Ltd. from Shunfeng International Clean Energy Limited (SEHK:1165) on January 6, 2017.