Global law firm White & Case LLP has advised Nestlé S.A. on its $S2.1 billion acquisition of 60 percent of Hsu Fu Chi, a leading manufacturer and distributor of confectionery products in China listed on the SGX-ST in Singapore.
Following the conclusion of the regulatory process, the acquisition by Nestlé S.A. of 60 percent of Hsu Fu Chi closed on December 16, 2011. Hsu Fu Chi was delisted on 23 December 2011.
This is a significant deal for China's food and beverage sector, as well as for Nestlé. The joint venture demonstrates Nestlé's long-term commitment to China and to growing its portfolio of international and local brands within China.
The White & Case team was led by Vivian Tsoi (Beijing), William Kirschner and Jonathan Olier (Singapore) with support from a large and dedicated team of associates in Singapore, Beijing, Hong Kong and Shanghai led by Tim Goh (Singapore), Jessie Yan (Hong Kong) and Xi Zhang (Beijing).
Other legal advisors included Maples and Calder, as Cayman law counsel to Nestlé, Reed Smith (Hong Kong) as international counsel to the founding family of Hsu Fu Chi, and Loo and Partners as Singapore law advisers to Hsu Fu Chi.
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