King & Wood Mallesons has represented Kailis Bros, a renowned family-owned Australian seafood company, in a deal to sell its 90 percent of its seafood processing, wholesale and exporting business to Hong Kong-listed conglomerate Legend Holdings, which turned to MinterEllison for advice.

Legend, the parent company of computer maker Lenovo, is expected to pay cash for the sale, whose financial terms were not disclosed. Under the deal, Legend will become the majority owner while the Kailis family will hold 10 percent of KB Foods, the newly capitalised venture between the companies.

China FDI Group leader Adam Handley and fellow partner Gemey Visscher led the MinterEllison team while Perth-based partner Nigel Hunt oversaw the transaction for KWM.

After the deal, the Kailis family will still be involved in running KB Foods, with Matthew Kailis filling the role of group chief executive, while George Kailis and Nicholas Kailis retain their roles as managing directors.