Mayer Brown JSM advises Dah Chong Hong on US$350 million acquisition
3 May 2016
Mayer Brown JSM acted as the legal adviser for Dah Chong Hong (DCH) on its acquisition of Li & Fung's consumer and healthcare distribution business in mainland China, Hong Kong, Macau, Taiwan, Thailand, Malaysia, Singapore, Philippines, Indonesia and Brunei. The acquisition has a total cash consideration of US$350 million, subject to working capital adjustments on a cash-free, debt-free basis. The acquisition is expected to be completed by June this year.
A publicly-listed subsidiary of CITIC, DCH is an integrated trading and distribution company operating in Asia with a focus on Greater China. The company is also supported by an extensive logistics network.
“We assisted Dah Chong Hong with its listing on the Hong Kong Stock Exchange in 2007 and have worked on all of their major acquisitions since then," says Jeckle Chiu, Corporate & Securities partner, Mayer Brown JSM. "We are proud to be part of the growth of our long-standing client, and would like to congratulate them on this acquisition.”
The transaction was led by Mr. Chiu. He was assisted by a multi-practice team from Hong Kong, Bangkok, Singapore and London.