Allen & Overy (A&O) and Paul Hastings took lead roles as China's Shuanghui secured $4bn (£2.56bn) in debt finance for its takeover of the world's largest pork producer.

The Hong Kong meat processing giant, which offered to buy Virginia-based Smithfield Foods for a price of $7.1bn (£4.7bn) earlier this year, said it had entered into a facilities agreement with a group of banks which would allow it to raise funds for the acquisition.

Advising Shuanghui International Holdings on Hong Kong and New York law was US firm Paul Hastings, who also provided counsel to the company on M&A, employment, finance, intellectual property and tax issues when the buyout was first agreed.

Leading a team was Hong Kong-based corporate partner and chair of Greater China Raymond Li, with assistance was Hong Kong partner Vivian Lam, New York corporate partners Mario Ippolito and Michael Chernick, and London partner Garrett Hayes.

Troutman Sanders advised Shuanghui as to Virginia law.

Magic circle firm A&O meanwhile acted for the banks, which included Bank of China, Rabobank, Credit Agricole, DBS, Natixis, Royal Bank of Scotland, Standard Chartered and ICBC. Heading up was Hong Kong-based banking partner Cindy Lo.

On offshore and PRC matters, the lenders were represented by offshore firm Walkers and Chinese outfit Jingtian & Gongcheng respectively.

Shuanghui announced plans to acquire Smithfield in May, agreeing what will be the largest-ever Chinese takeover of a US company once approved.

The deal, which has received pushback from the American public, remains subject to shareholder approval and other conditions. It is expected to close in the second half of the year.