China Resources Capital Management Limited’s HK$1.5 Billion Acquisition Of City Super


Herbert Smith Freehills has advised China Resources Capital Management Limited on the deal.

China Resources Capital Management Limited acquired City Super, which operates an Asian premium food and lifestyle supermarket chain in Hong Kong, Shanghai and Taiwan.

Working jointly with Asia Food Growth Fund, the investment management arm of China’s largest conglomerate acquired a combined 65% shareholding in City Super from Fenix Group Holdings Limited, Lane Crawford Joyce Group and other existing shareholders.

Upon completion, City Super Group will continue to operate independently under the city’super and LOG-ON brands, led by the existing management team.

Tommy Tong (Picture), who led the team advising China Resources, was assisted by senior associate Paul Fan, associate Aaron Li and trainee Joanna Ku in Hong Kong. Specialist advice was provided by senior associate Sherry Lai (real estate), senior consultant Tess Lumsdaine (employment) and tax consultant Susan Leung. Competition advice was provided by partner Adelaide Luke and associate Frederick Good in Hong Kong.

Partner Nanda Lau led a Shanghai corporate team on the deal, assisted by senior associate Angela Zhao and associate Tianchan Li, while associate Alvin Zheng from the Herbert Smith Freehills Kewei joint operation provided support on Chinese law aspects.

In New York, corporate partner James Robinson, senior associate Danielle MacGillivray and visiting attorney Paola Ordonez advised on corporate and US law issues.

Involved fees earner: Paul Fan – Herbert Smith Freehills; Frederick Good – Herbert Smith Freehills; Sherry Lai – Herbert Smith Freehills; Nanda Lau – Herbert Smith Freehills; Aaron Li – Herbert Smith Freehills; Tianchan Li – Herbert Smith Freehills; Adelaide Luke – Herbert Smith Freehills; Danielle MacGillivray – Herbert Smith Freehills; James Robinson – Herbert Smith Freehills; Tommy Tong – Herbert Smith Freehills; Angela Zhao – Herbert Smith Freehills; Alvin Zheng – Kewei Law Firm;

Law Firms: Herbert Smith Freehills; Kewei Law Firm;

Clients: China Resources Capital Management Limited;

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Author: Michael Patrini