Jurisdiction - China
News
Clyde & Co Advises Sanpower Group On USD 800m Acquisition Of House Of Fraser.

15 April, 2014

 

Clyde & Co has advised Sanpower Group Co. Limited (Sanpower Group) in relation to its acquisition of an 89% stake in British retailer House of Fraser. The deal, signed on 3 April 2014 and valued at approximately GBP 480m (USD 800m), is the Sanpower Group’s first major investment in the UK retail sector and China’s largest foreign retail investment to date.

 

Beijing Partner Lynia Lau led a team of 20 lawyers to work on the deal.

 

Lynia said, “As Chinese retail sales are expected to grow at an annual average of 14 percent and British retail sales continue to recover, this deal opens new opportunities for market expansion for either party. Furthermore, this ground-breaking transaction underscores the strength of Clyde & Co’s integrated offering in Greater China and our commitment to support clients in their inbound and outbound Chinese investments.”

 

Conventus Law

Follow us on Twitter @conventuslaw

Comments are closed.