Jurisdiction - China
China – Baker & McKenzie Advises A CAPITAL On Innovative PIPE Transaction.


25 July, 2012
Premier global law firm Baker & McKenzie has advised leading Europe-China growth capital private equity fund A CAPITAL on one of the first major private investment in public equity (PIPE) transactions by a Chinese strategic investor teaming up with a private equity fund to invest in a leading European-listed company. A CAPITAL and co-investor Sparkle Roll Holdings Limited increased share capital in Danish luxury consumer electronics company Bang & Olufsen A/S by 8.35%.
Baker & McKenzie Partner Thomas Gilles, Head of the China Desk of Baker & McKenzie's German and Austrian offices, who advised on the deal, commented: “The investment by A CAPITAL and Sparkle Roll is the second landmark China outbound transaction implemented by A CAPITAL – after the joint investment of A CAPITAL and Fosun in Club Mediterannée in 2010. We are very excited that we were able to support A CAPITAL in this important transaction.” 
A CAPITAL is the leading Euro-China growth capital fund specializing in investments into performing European midcap companies with strong growth potential in China. Baker & McKenzie previously acted for A CAPITAL in connection with the set-up of its China outbound fund in May 2012. Privately owned Sparkle Roll is one of China’s leading luxury goods distributors. 
Andre Loesekrug-Pietri, Chairman of A CAPITAL added: "We are excited about this investment into Bang & Olufsen which validates our strategy to invest into performing European companies in order to secure and accelerate their development in China. We are looking back at a long-standing relationship with Baker & McKenzie, a global law firm that is very successful in advising Chinese companies in their efforts to invest abroad and to become global players. Our senior counsel Thomas Gilles and his team have once again been extremely helpful in assisting A CAPITAL". 
The Baker & McKenzie team also included Hong Kong-based Partner Elsa Chan and Frankfurt-based Partners Nikolaus Reinhuber and Christian Atzler. 
The deal is subject to approvals from Chinese authorities.
For further information, please contact:
Michael Evans, Baker & Malaysia

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