DEALS
Zhong Lun Advises the Establishment of Jiangsu Film Co., LTD.
Zhong Lun Advises the Establishment of Jiangsu Film Co., LTD.
On March 31, 2017, Beijing Film Co., LTD (“Beijing Film"), Beijing New Film Association Cultural Communication Company (“Beijing NFA") and Jiangsu Film Distribution and Projection Company (“Jiangsu Company") together executed the Sponsorship Agreement of Jiangsu Film Co., LTD, which announced the formally establishment of Jiangsu Film Co., LTD.
As legal counsel of Beijing Film and Beijing NFA, Zhong Lun Law Firm formed a legal team headed by Mr. LI Ya with professional contribution from Ms. LIU Ye, Ms. WANG Li and Mr. ZHANG Cheng, and advised the entire process of this project, including legal due diligence of all contribution assets (cinema companies, cinema chain companies and cinema investment company), transaction structure design (including method of corporation formation and the method and procedure of investing by state-owned equity), documentation, and communication with relevant governing authorities.
All shareholders of the Jiangsu Film Co., LTD are state-owned companies, and the establishment of Jiangsu Film Co., LTD is also a significant resources integration between state-owned companies in Beijing and Jiangsu in the industry of cinemas and cinema chains. Such a resources integration will make Jiangsu Film Co., LTD able to utilize more than 180 cinemas through New Film Association Cinema Chain and Eastern Cinema Chain, and able to expand broad cooperation in areas like film production, distribution, projection, cinema, ticketing, equipment and advertisement.