Linklaters and Paul Hastings lead on bid for Spain's Campofrio
Linklaters and Paul Hastings took lead roles as Chinese meat processing giant Shuanghui International tied-up with Mexican food company Sigma Alimentos in a joint bid for share control of Spanish processed-meat business, the Campofrio Food Group. The deal, worth approximately $966m but still subject to approval, will see Sigma and Shuanghui combine their existing stakes in the company and offer €6.90 per share for the remaining stock. Together they currently own 82% of Campofrio's shares.
January 08, 2014 at 09:15 PM
1 minute read
Linklaters and Paul Hastings took lead roles as Chinese meat processing giant Shuanghui International tied-up with Mexican food company Sigma Alimentos in a joint bid for share control of Spanish processed-meat business, the Campofrio Food Group.
The deal, worth approximately $966m but still subject to approval, will see Sigma and Shuanghui combine their existing stakes in the company and offer €6.90 per share for the remaining stock. Together they currently own 82% of Campofrio's shares.
Acting for Sigma on the transaction was magic circle firm Linklaters, with a team led by Madrid corporate partner Alejandro Ortiz.
In a series of purchases from November 13 to November 27, Sigma acquired approximately 45% of Campofrio.
US outfit Paul Hastings represented Shuanghui on the deal, having previously acted for the Hong Kong-based company on its $7.1bn acquisition of Smithfields last year, and it's associated fundraising activities.
Leading the group was M&A partner Carl Sanchez in San Diego, with assistance from Hong Kong corporate partners Raymond Li, Vivian Lam, Catherine Tsang.
Other firms on the deal included Barcelona-headquartered Cuatrecasas, Gon
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