King & Wood Mallesons scores on West Brom sale
KWM leads on the sale of west Midlands football club to Chinese investment group.
August 05, 2016 at 10:07 AM
2 minute read
King & Wood Mallesons (KWM) is leading on the sale of West Bromwich Albion Football Club to Chinese investment group Yungi GuoKai Sports Development.
Club chairman Jeremy Peace – who holds an 88% stake in the English west Midlands football club – is set to sell West Brom to the Shanghai-based company, which is controlled by Chinese businessman Guochuan Lai.
The financial terms of the deal were not disclosed.
The deal was agreed in June and is dependent on approval from the Financial Conduct Authority and the Premier League.
KWM is acting for Yungi GuoKai with a team led by London based corporate partner Will Holder. He is being supported by corporate partner James Zeng, disputes partner Sha Jun and securities partner Wang Jianxue, who are based in the firm's Guangzhou office in southeastern China.
The London team also includes tax partner Gareth Amdor, employment partner Carl Richards and financial regulation partner Tim Dolan.
Peace has instructed London firm and longstanding adviser Memery Crystal. Client partner and corporate specialist Greg Scott is leading the team alongside tax partner Tim Crosley.
Lai said: "I am proud that I will be the first mainland Chinese owner of a Premier League club. This historic deal will result in a rapid and significant increase in interest in the club in China, which should lead to attractive commercial opportunities."
News of the sale comes less than a month after Chinese conglomerate Fosun International bought Wolverhampton Wanderers FC. Bird & Bird advised Fosun on the deal while the seller – Bridgemere UK – turned to Squire Patton Boggs for advice on the deal.
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