DLA Piper advises Fosun International on strategic partnership with Secret Recipe
DLA Piper has advised Fosun International on its ¥210.5m (£20.5m) investment in and strategic partnership with food and beverage chain Secret Recipe, to become the second-largest shareholder of Malaysia’s well-known restaurant chain.
Established in 1997, Secret Recipe is south-east Asia’s largest casual dining chain group, with more than 300 restaurants across Asia. It also holds a strategic partnership with Darden Restaurants, a New York Stock Exchange-listed restaurant chain in North America with famous brands such as Red Lobster, Olive Garden and LongHorn Steakhouse.
This is the first investment by Fosun into an overseas restaurant chain and is aligned with its strategy of investments in overseas assets in sectors that would significantly benefit from China’s growth momentum, with a view to participating in the rapid development of China’s economy.
The DLA Piper team was led by partner Heng Loong Cheong (corporate, Hong Kong) and supported by a core team of Angela Cheung, Farrah Saleem, Janice Ma and Christopher Elliott (all corporate, Hong Kong).
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The SEC has announced a mass action against 34 defendants for alleged violations of federal securities laws regarding reporting of stock holdings.
DLA Piper counts down the top five privacy issues and client concerns seen in the first six months of the operation of the APPs.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions