DEALS
Zhong Lun Advises on Joint Venture between Camelpaint of Hong Kong and DGL International in China
Zhong Lun Advises on Joint Venture between Camelpaint of Hong Kong and DGL International in China
Camelpaint Chemical Company Limited (“Camelpaint") announced on November 10, 2011 that it has completed the merger with the China and Hong Kong business of DGL International (“DGL"), a subsidiary of Australian Securities Exchange (ASX) listed company - DuluxGroup Australia, to create a new joint venture - DGL Camel International Limited (“DGL Camel"). Upon completion, Camelpaint becomes the holder of the 49% equity of DGL Camel.
Zhong Lun Hong Kong Office’s partners Roger Ho and Henry Lau and Shenzhen Office’s partner Catherine Guo led a team consisting of Hong Kong associates Stephen Wong, Joyce Tam and Winnie Tse and Shenzhen associates Liu Yueling and Qiu Ju to advise Camelpaint on this transaction. The team provided legal services for Camelpaint in all respects from deal structuring, due diligence, documentation and negotiation.
Camelpaint was established in Hong Kong in 1932, and is a leading manufacturer and marketer in the Decorative, Architectural and Industrial markets in China, Hong Kong and Macau. DGL International is the manufacturer and marketer of decorative paints, and accessories, and high performance façade coatings and its Opel product ranges and occupies a prominent position in China’s Decorative Wood Coatings market. Camelpaint believed that the combination of the two companies will generate an extensive complementary product range with a widespread geographic reach, underpinned by an advanced R & D and marketing capability.
