DEALS
Zhong Lun Advises HNCA on Share Purchase and Commercial Cooperation with Cargolux Regarding Civil Aviation in Henan Province
Zhong Lun Advises HNCA on Share Purchase and Commercial Cooperation with Cargolux Regarding Civil Aviation in Henan Province
On January 14, 2014, Henan Civil Aviation Development and Investment Co., Ltd (“HNCA") and Cargolux Airlines International S.A. (“Cargolux") held a signing ceremony on the purchase of 35% shares of Cargolux and the Commercial Cooperation Agreement in Zhengzhou, Henan province. Zhong Lun Law Firm is the legal counsel for HNCA. Feng Wenjun, Ren Qing, Ye Tong，Cao Qian and Wang Jin from Zhong Lun’s Beijing Office provided full range legal services for this project, including legal due diligence, assisting in governmental approval and filing procedures, drafting and negotiating legal documentation and business negotiation, etc.
HNCA was established for the purpose of setting up the Zhengzhou Aviation Economy Comprehensive Experimental Area and developing the investment in aviation industry. Cargolux is Europe’s biggest all-cargo airline and the world’s ninth biggest all-cargo airline with a worldwide network that covers 90 destinations and more than 85 offices in over 50 countries. HNCA purchased 35% shares of Cargolux from the Grand-Duchy of Luxembourg. The total price for this purchase was USD216,250,000. After the purchase is completed, the two parties shall carry out commercial cooperation regarding civil aviation in Henan Province, including operating international air cargo routes from Luxembourg to Zhengzhou and a joint venture airline that HNCA and Cargolux shall jointly invest in and establish in Zhengzhou, Henan Province.