Orrick, Herrington & Sutcliffe has advised Chinese home appliances maker Qingdao Haier on its 475-million-euro ($480 milllion) acquisition of Italian home appliance maker Candy, which was represented by Cleary Gottlieb Steen & Hamilton.
According to Reuters, Qingdao Haier aims to raise up to 400 million euros ($464 million) in the first D-share sale listing on CEINEX to fund its acquisition of Candy and to promote the Haier brand in Europe.
Qingdao Haier and Candy are highly complementary in brand and product portfolios, as well as supply chains. The combination is expected to further enhance both sides’ competitiveness in the European and global markets.The transaction is expected to be completed in early 2019.
The Orrick team was led by partners Xiang Wang, Jeffrey Sun, Betty Louie, Alessandro De Nicola and Marco Dell’Antonia. Merger control and competition advice was handled by partner Douglas Lahnborg and the team.
The Cleary Gottlieb team was led by partner Roberto Bonsignore.
美国奥睿律师事务所和美国佳利律师事务所协助青岛海尔4.75亿欧元收购意大利Candy
美国奥睿律师事务所协助国际领先家电生产商海尔以4.75亿欧元收购意大利国际专业电器制造商Candy公司。在此次交易中，美国佳利律师事务所为Candy公司提供法律服务。
据路透社报道，青岛海尔正在进行于中欧国际交易所D股市场首次公开发行股票并上市的相关工作，本次发行的D股股数不超过4亿股（超额配售权执行前）。发行收入将用于支持业务增长，部分资金用于收购意大利的Candy 公司，同时也希望借此提升其在欧洲家电市场的知名度。
青岛海尔与Candy公司在品牌、产品组合和供应链等领域互补性强，此次合并将进一步提升双方在欧洲乃至全球市场的竞争力。预计此次交易将于2019年初完成。
美国奥睿律师事务所团队由合伙人王翔、孙捷、吕丽明、Alessandro De Nicola 和Marco Dell’Antonia主导，合并控制和竞争方面的建议则由合伙人Douglas Lahnborg主导。
美国佳利律师事务所团队由合伙人Roberto Bonsignore主导。
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