14 December, 2018
Baker McKenzie advised Akzo Nobel N.V., a global paints and coatings company headquartered in the Netherlands, on the acquisition of full ownership of its decorative paints joint venture from Swire Industrial Limited, a subsidiary of Swire Pacific Limited and a Hong Kong listed conglomerate with interests in property, aviation, beverages and maritime, among others. The deal was signed today.
The transaction constitutes the acquisition of Swire's minority interest in the joint venture which manufactures and distributes decorative paint, primarily under the Dulux brand. With this acquisition, AkzoNobel acquires full ownership of the joint venture. The former joint venture comprises five legal entities (four in Mainland China and one in Hong Kong).
Baker McKenzie fielded a top global transactional team led by M&A Partner Grace Tso and supported by Associates Louann Fang Richard and Cynthia Or in Hong Kong. The team is also supported by Tim Gee, M&A Partner in our London office, Alexander Spoor, M&A Partner in our Amsterdam office and Tracy Wut, Head of M&A in Hong Kong / China.
Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. From deal inception to business integration, we help clients bridge the gap between aspiration and achievement. The Firm leads and closes three deals a day with expertise spanning banking and finance, capital markets, corporate finance, funds, M&A, private equity and projects. The combination of deep sector expertise, and our ability to work seamlessly across each of the countries where we operate, means we add unique value in shaping, negotiating and closing the deal.
