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Zhong Lun advised SATS LTD. on its acquisition of 50% shares in Nanjing Weizhou Airline Food Corp., Ltd.
Zhong Lun advised SATS LTD. on its acquisition of 50% shares in Nanjing Weizhou Airline Food Corp., Ltd.
Release time：2019-12-09
Voice Announcements
Recently, SATS LTD. (through its wholly owned PRC subsidiary, i.e. SATS China Co., Ltd.) has completed its acquisition of 50% shares in Nanjing Weizhou Airline Food Corp., Ltd. (used to be a NEEQ listed company) by way of purchasing existing shares and subscribing for new shares, in consideration of paying around RMB 156.2 million. The target company was delisted from the NEEQ on 21 August 2019.
Zhong Lun Law Firm, as the legal advisor of SATS LTD. for this project, has provided full scope legal services, including assisting with designing the transaction structure, conducting legal due diligence, assisting with the compliance requirements of NEEQ, issuing legal opinion, preparing the transaction documents, attending to negotiation, and assisting with the closing. The leading partners who provide legal services for this project are Wayne WANG and Zhifeng ZOU, and the team mainly consists of Jolie XU (associate) and Yan QIN (associate).
SATS LTD. is a listed company in Singapore, the largest employer of Singapore and a leading port service provider and food supplier in Asia. The food supply business of SATS LTD. covers aviation catering, industrial catering and food production, processing, distribution and logistics, with a business network covering 13 countries and 60 locations in Asia and Middle East.
