Jurisdiction - China
Ashurst Advises ITOCHU Corporation On An Indirect Investment In Bosideng International.

10 June, 2015


Ashurst has advised ITOCHU Corporation in relation to a HKD 1.55bn (approximately USD 200m) indirect investment in Bosideng International Holdings Limited, a manufacturer of apparel and down jackets, together with GoldStone Investment, a wholly-owned investment platform of CITIC Securities.  The transaction also involved investment by ITOCHU Corporation in indirect stakes in other Chinese companies.


The transaction is the first synergy co-investment transaction since ITOCHU Corporation’s landmark USD 10.3bn investment in CITIC Limited, together with Charoen Pokphand Group.


The Ashurst team was led by partner Jonathan Hsui, with partner Michael Sheng as member of the transaction team.


Kohei Kondo of ITOCHU Corporation’s legal division commented:


“We were pleased to work with the Greater China team of Ashurst, led by Jonathan Hsui, Chin Yeoh, Michael Sheng and Mirror Zhou.  Thank you to them as well as to the entire Ashurst lawyers and staff members who tirelessly supported us towards the successful signing.”


Jonathan Hsui commented:


“We are delighted to have advised ITOCHU on its first co-investment with CITIC after ITOCHU and CP Group’s acquisition of a strategic stake in CITIC.  The investment into Bosideng presents an exciting opportunity for ITOCHU to further its exposure to the fast growing China consumer market.”


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