Linklaters leads as China's Bright Food takes majority stake in Weetabix
Linklaters, Mills & Reeve and Weil Gotshal & Manges have won roles advising on the acquisition of a 60 per cent controlling stake in Weetabix by state-owned Chinese company Bright Food.
Teresa Ma
Linklaters corporate partners Teresa Ma in Shanghai and Clodagh Hayes in London acted for Bright, one of the largest food groups in China, which acquired a 60 per cent stake in the famous breakfast cereal brand, which is valued at £1.2bn. They worked alongside Shanghai-based senior consultant Richard Gu and London associate Tom Matthews.
Weil advised private equity sellers Lion Capital, which, together with Weetabix management, retains a 40 per cent holding in the company. The US firm fielded London managing partner Mike Francies as the lead corporate partner alongside City corporate associate James Harvey. Shanghai corporate partner Tony Wang, London pensions and benefits partner Joanne Etherton and City tax head Sarah Priestly also advised.
Mills & Reeve Cambridge partner Anthony McGurk advised Weetabix’s management.
Lion Capital has used Weil on a number of occasions, turning to SJ Berwin for some deals.
