23 November, 2020
Aliaxis SA, a global leader in the manufacturing and distribution of advanced plastic piping systems, has agreed to divest its business in South-East Asia (Malaysia and Singapore) to LESSO Group.
LESSO Group, or China Lesso Group Holdings Limited (Stock Name: China Lesso, Stock Code: 02128.HK), is a large industrial group of home furnishings and building materials in China. China Lesso's product portfolio spans piping, sanitary ware, integral kitchen, integral doors and windows, decorative plates, water purifiers, fire-fighting equipment, valves, hygiene materials, oceanic aquaculture cages, products for environmental protection, home furnishings and building materials, channels and services, and more. Its sales revenue has reached RMB 26.345 billion in 2019.
An agreement in respect of LESSO Group’s acquisition of Aliaxis SA’s business in Singapore (i.e. “Snow Operation”) was signed in September 2020, and the said acquisition was completed in October 2020.
ZICO Insights Law LLC advised LESSO Group in the acquisition of the “Snow Operation”. The team on the deal comprises Dr. Qiu Yang (Director), and Mr. Denzel Chua (Senior Associate).
