Paul Hastings and Linklaters have scored leading advisory roles on China’s Shuanghui International Holdings and Mexican frozen food company Sigma Alimentos’ joint venture to acquire Spain’s Campofrio Food Group for 700 million euros ($957 million).
Shuanghui inherited a 37 percent stake in Campofrio, a household name in Spain as the leading producer of canned ham and hot dogs, when it bought U.S. pork producer Smithfield Foods in September.
Under the deal reached in December, Sigma will join its 45 percent stake in Campofrio with Shuanghui's holding and launch a raised 6.9 euros a share bid for the remaining stock, to be delisted from the Madrid stock exchange.
San Diego-based partner Carl Sanchez led the Paul Hastings team that advised Shuanghui, alongside Hong Kong partners Raymond Li, Vivian Lam, Catherine Tsang, and of counsel Pei Fang.
Cuatrecasas, Gonçalves Pereira advised Shuanghui on Spanish law, while Commerce & Finance Law Offices and Maples and Calder provided PRC and Cayman Islands legal advice, respectively. Linklaters represented Sigma Alimentos.
Chairman Pedro Ballve, whose family founded Campofrio in 1952 as a canned foods group before expanding into meat products in Spain and across Europe, will remain on the company's board.
