20 November, 2017
Skadden is advising Auchan Retail S.A. (Auchan Retail), one of the world's top 5 internationalized food retailers, on the strategic alliance, announced by Auchan Retail, Alibaba Group Holding Limited (Alibaba) and Ruentex Group (Ruentex), that brings together their online and offline expertise to explore opportunities in China's food retail sector.
As part of the transaction, Alibaba has agreed to acquire a 36.16% stake in Auchan Retail's Hong Kong-listed subsidiary Sun Art Retail Group Ltd. for HK$22.4 billion (approximately US$2.88 billion) and Auchan Retail is also increasing its stake in Sun Art. Sun Art is a leading multi-format offline food retailer operating 454 hypermarkets in China. The transaction was announced on 20 November 2017.
The Skadden core team includes partners Jonathan Stone and Christopher Betts, of counsel Antony Dapiran, counsel Olivia Odell, and associates Marc Tan and Arthur Chan in Hong Kong.
Other team members include partners Armand Grumberg and Bradley Klein, Asia Pacific counsel Xiao Liu, and associate Ryan Tou.
For more information, please see Auchan Retail's announcement here.
