Latham & Watkins LLP represented Vipshop in the transaction.
Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China (“Vipshop”), announced that it has, through one of its wholly-owned subsidiaries, entered into a share purchase agreement (the “Share Purchase Agreement”) with Ningbo Xingtong Chuangfu Equity Investment Partnership and Shan Shan Group Co., Ltd., in connection with the acquisition from the Sellers of 100% of the registered capital and the corresponding equity interests in Shan Shan Commercial Group Co., Ltd., a leading player in the outlets industry in China (“Shan Shan Outlets”).
Pursuant to the Share Purchase Agreement, the total consideration for the proposed acquisition payable by Vipshop to the two sellers is RMB2.9 billion (approximately US$420 million) in cash installments.
Headquartered in Ningbo, Zhejiang Province, China, Shan Shan Outlets currently operates five outlets in Ningbo, Taiyuan, Harbin, Zhengzhou, and Nanchang, with another five outlets in the pipeline.
Latham & Watkins LLP represented Vipshop with a Hong Kong-based corporate deal team led by partner Frank Sun (Picture), with associates Stephen Shi and Shanshan Xiao.
Law Firms: Latham & Watkins;
Clients: Vipshop Holdings Limited;