Simmons & Simmons has launched an Italian desk in Asia, led by Milan-based partner Dario Spinella. The desk offers advice on inbound and outbound investments between Asia and the European country.
Spinella will be supported by partners Eric Lin and Melody Yang in Beijing, Ian Wood in Hong Kong, and Matthew Durham and May Lu in Shanghai. Additional support to clients in Greater China and Singapore will be provided by partners Michael Chin, who splits his time between Hong Kong and Shanghai, and Calvin Tan in Singapore.
The past few years have seen several notable acquisitions of Italian companies by Chinese investors, such as a Chinese-led consortium headed by Li Yonghong buying storied Italian soccer club A.C. Milan for $872 million from former Italian Prime Minister Silvio Berlusconi last year.
Chinese investors have also been eyeing Italian fashion and luxury brands. In December, Reuters reported that Chinese conglomerate Fosun was in exclusive talks over the sale of a majority stake in luxury lingerie group La Perla, while in October, Chinese private equity firm Hony Capital said it had agreed to buy a third of fashion brand Mr & Mrs Italy’s owner Duemmei.
Recent Italy-China work done by Simmons & Simmons include advising China’s Gangtai Group on its $282 million acquisition of high-end jeweller Buccellati from Italian private equity firm Clessidra in December 2016.