DEALS
Zhong Lun Law Firm Provided Legal Services for the Acquisition of Tongyi Lubricants by Huoshi Group
Zhong Lun Law Firm Provided Legal Services for the Acquisition of Tongyi Lubricants by Huoshi Group
On August 7, 2015, Huoshi Culture Industry (Group) Co., Ltd. (“Huoshi") together with Carlyle Group reached an agreement on the acquisition of 75% of the equity interest of Tongyi Lubricants held by Shell, a global leading energy enterprise. This acquisition transaction is pending relevant government approvals, and is expected to be closed by the end of 2015 or at the beginning of 2016.
Zhong Lun Law Firm provided legal services for this acquisition transaction. Ms. Gao Yan, partner of Beijing office, was in charge of the legal services with the assistances of Associate Bi Ran, and legal teams from Shanghai office and Hong Kong office respectively led by partner Peter Ni and Jane Yao provided services with respect to tax and overseas transaction issues.
Tongyi Lubricants is the leading brand in the Chinese lube market. Upon completion of this acquisition transaction, Huoshi will regain control over the brand and business of Tongyi Lubricants as its founder, and will take full advantages of the global resources and industrial specialization of Carlyle Group so as to promote the development of Tongyi Lubricants to a higher level.
