Global law firm Norton Rose Fulbright has advised Lianhua Supermarket Holdings Co., Ltd, on the RMB998 million (US$153.9 million) acquisition of a 75% equity interest in Yiwu City Life Supermarket Co., Ltd. and the entire equity interest in Hualian Group Jimaisheng Shopping Centre Company Limited from Bailian Group Co., Ltd. which is a controlling shareholder of Lianhua Supermarket.
Lianhua Supermarket is principally engaged in retail and the operation of hypermarkets, supermarkets and convenience stores in China. It was one of the first Chinese retail chain operators to be listed on the Hong Kong Stock Exchange.
Yiwu City Life is principally engaged in the development and operation of a mega hypermarket located in Yiwu City in China. Jimaisheng is principally engaged in the operation of large chain hypermarkets in Shanghai.
As part of the consideration, Lianhua Supermarket will transfer the entire equity interest of Lianhua Logistics Company Limited a company principally engaged in the purchase and distribution businesses, to Bailian Group.
The acquisition constitutes a major transaction and a connected transaction under the Hong Kong Stock Exchange Listing Rules. The Acquisition is expected to be completed in the second half of 2016.
The Norton Rose Fulbright team was led by Hong Kong partner Psyche Tai, assisted by senior associate Vicky Lam and associate Charles Lam.
For further information please contact:
Jessica Man, Marketing and Communications Executive, Asia
Tel: +852 3405 2445
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