ZHH advises Sichuan Jinhao Real Estate Development Co., Ltd. on its acquisition of Hongtai Food

Date:2019/07/02 Views:1428

Sichuan Jinhao Real Estate Development Co., Ltd. proposed to acquire 100% shares of Sichuan Yibin Hongtai Food Co., Ltd. (“Hongtai Food”). Hongtai Food was founded on April 10, 1989 as an enterprise owned by the whole people. In 1999, it was restructured into a limited liability company, in which 192 employees had equal shares and authorized 8 natural persons to hold these shares on behalf of such 192 employees. From September 2018 to January 2019, ZHH's lawyers were appointed by Sichuan Jinhao Real Estate Development Co., Ltd. to conduct due diligence on Hongtai Food, and provided full legal services for the client to complete share acquisition.

 

The difficulties in this share acquisition project were that too many shareholders gave different opinions and that as Hongtai Food existed for long and many historical problems existed, there were various uncontrollable factors during acquisition. When providing legal services, ZHH's lawyers fully verified all of the company's assets, proposed constructive opinions on historical issues and the transaction model, and prepared hundreds of contracts and supporting documents in a short period of time to ensure a successful completion of the transaction. ZHH had provided high-quality, efficient legal services, which were highly praised by the client and the target company's employees.

 

This project was led by Partner WANG Fei and handled by Attorneys CHAI Jia and RAN Chunhong.