Categories:Private Equity

DLA Piper advises Fosun in two separate private equity investments

DLA Piper has advised Fosun International in two separate private equity investments in the medical device and hospitality industries.

Led by partners Paul Chen and Jeremy Lustman, the law firm represented Fosun Pharma Group, a subsidiary of Fosun International, in its acquisition of Alma Lasers, an Israel-based manufacturer of lasers used in cosmetic surgery.

Under the terms of the deal, Fosun Pharma acquired nearly 97 per cent of the company for $240m.

Working closely with Israel counsel Gornitzky & Co on the transaction, DLA Piper’s multi-disciplinary team involved lawyers across its global offices, including: Dr Kirsten Girnth and Michael Holzhaeuser (Frankfurt) on German corporate matters; Sheng Wu (Hong Kong) on China corporate matters; Yang Du (Silicon Valley) on US corporate matters; Stacy Taylor and Matt Hierholzer (San Diego) on US FDA matters; Stacy Paz and Lily Kim (Silicon Valley) on US tax matters; David Lisi (Silicon Valley) on litigation matters; Paolo Morante (New York) and Semin O (Hong Kong) on antitrust matters; and William Hoffman, Mark Boxer (Silicon Valley) and Nancy Kawano (San Diego) on employee and executive compensation matters.

In the second transaction, partner Jeremy Scemama from the firm’s Paris office, with support from Sheng Wu and Paul Chen, advised Fosun International in its contemplated acquisition of Club Méditerranée through a partnership with AXA Private Equity and the management of the company.

Under the terms of the deal, Club Méditerranée is valued at approximately €650m.

Through a public tender offer, Club Méditerranée must enter a new phase of its development that requires a stabilised shareholding in order to be free from short-term constraints. In this context, an acceleration of the development strategy in emerging countries as well as the strengthening of the market shares in mature markets are necessary.

Additional DLA Piper lawyers advising on the transaction include: Camille Lagache, Matthieu Lampel and Elise Aubert (Paris) on corporate matters; Guillaume Valois (Paris) on tax matters; Marie-Hindre Gueguen and Jocelyn Goubet (Paris) on antitrust matters; and Esther Leung (Hong Kong) on Hong Kong securities law matters.

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