Clifford Chance fields Australian, Chinese lawyers for major inbound private equity investment

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Clifford Chance fielded a cross-border team to aid in one of the largest inbound private equity investment into Australia this year.

The Magic Circle outfit advised the consortium that acquired a majority stake in Nature’s Care, a major Australian vitamins and supplements business, from the founding Wu family.

Financial details of the deal were not disclosed, but the consortium – which was made up of China Jianyin Investment Limited, JIC Huawen Investment Limited, and Tamar Alliance Capital – paid nearly $800m for the stake, according to reports.

Clifford Chance tapped its Sydney and Beijing offices for lawyers to act on the acquisition and acquisition financing. The firm’s M&A team was jointly led by China co-managing partner Terence Foo and counsel Hong Zhang in Beijing and partner Lance Sacks and counsel Amelia Horvath in Sydney. They were supported by senior associate Janet Jiang and associate Tom Wong in Beijing and associates Ned Purcell and James Kwong in Sydney.

The team that handled financing matters was led by Australia managing partner Richard Gordon in Sydney and partner Timothy Democratis in Beijing. They were supported by counsel Alastair Gourlay and associate Victor Greenstreet in Sydney. 

Antitrust and regulatory expertise was supplied by Beijing counsel Bai Yong and associate Zibo Liu.

The deal seeks to leverage the fast-growing demand for health and nutrition supplements in China and the region, Foo said.

Sacks noted that the deal builds on the firm’s strong record in China outbound-Australia inbound M&A transactions, with the firm having recently advised on the successful acquisition of the iconic Brownes Dairy business by a consortium led by Shanghai-listed Grounds Foods.

Clifford Chance acted for China’s Biostine, now Health and Happiness, in its acquisition and restructuring of Australia’s Swisse Wellness in 2016.

 

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