Recently, jintiancheng assisted Jiangsu haihuiwute Packaging Co., Ltd. in transferring all the company’s assets (hereinafter referred to as “the transaction”) to Finland’s food packaging giant Huhtamaki.
The negotiation lasted for two years. The project was once in a bottleneck due to the changes in the trading background and COVID-19. After being changed and adjusted several times through the advice of financial advisors and Jin Tian Cheng lawyers, it was finally decided to buy (asset acquisition) with a debt free method of 27 million euros. Later, Finland Pule group established Pule Haihui (Xuzhou) packaging Co., Ltd. and obtained all the business-related assets of Jiangsu haihuiwate Packaging Co., Ltd. the haihuiwate team also formally joined Pule group after the delivery to carry out its business operation in China. The project has been signed and officially delivered in the near future. It can be said that the achievement of this cross-border M & a project is an important milestone for both Haihui team and Pule group.
Jiangsu haihuiwute Packaging Co., Ltd. is a private enterprise, founded in 2004, the company is located in Xuzhou Economic and Technological Development Zone, Jiangsu Province, Jingshan Road, 40 science and technology pioneer park area B. It mainly produces paper bags, food packaging paper and folding cartons for international fast food restaurants and domestic baking chain stores. The production base currently has about 200 employees. After the completion of the transaction, the existing employees will have the opportunity to continue to work for Pule group. In 2020, the company’s annual net sales are about 20 million euros.
Pule group is a global commodity and beverage packaging expert. Founded in 1920, the company is headquartered in asburg, Finland and listed on the Helsinki Stock market. There are 76 factories and 24 sales representative offices in 34 countries. Upon completion of the acquisition, Pule group will have four manufacturing plants in China, located in Guangzhou, Shanghai, Tianjin and Xuzhou.
In the process of this cross-border M & A, the lawyer team composed of jintiancheng senior partners Li Peiliang and Zou Menghan, foreign legal adviser Ms. Zhu Xianglian and paralegal Guo Feiyi provided comprehensive legal services for clients, including providing compliance legal advice in the overall transaction process, cross-border M & a structural adjustment, business negotiation, business negotiation, etc Reviewing and revising the whole set of transaction procedures and documents such as asset transfer agreement, we have won the recognition and trust of customers with our consistent rigorous and efficient working style, meticulous and dedicated service attitude.
Post time: Jun-25-2021