A cross-border Orrick team in China, Milan, Paris and London advised Qingdao Haier, the world's largest domestic appliance brand, on its €475 million acquisition of Candy S.p.A, further accelerating Haier’s growth in the European market. The transaction, subject to regulatory filings, approvals and other customary closing conditions, is expected to be completed in early 2019.
Additional details are available in Qingdao Haier and Candy’s press release.
The Orrick team was led by partners Xiang Wang, Jeffrey Sun, Betty Louie, Alessandro De Nicola and Marco Dell’Antonia, and included Marco Mancino, Erica Chong, Federico Urbani, Yalan Lei, Carol Yan, Victor Zhang, Giuseppe Cuminetti and Federico Lenci. Merger control and competition advice was handled by Douglas Lahnborg, Matthew Rose and Saira Henry.
JPMorgan acted as financial advisor to Qingdao Haier.