NCTM Studio Legal Associato has assisted Fiera Milano in its expansion project in China, with the acquisition of a 75 per cent stake in Guangzhou Shi Zhan Exhibition Service, an exhibition operator active under the brand Worldex in the provinces of Guangdong and Hainan (through its subsidiary Hainan Shi Zhan Exhibition).
The deal — which states that the company’s founder, Qi Yilong, remains partner of Fiera Milano with the remaining 25 per cent stake and retains executive roles in order to facilitate the penetration of the Chinese market — was achieved through an initial process of corporate reorganisation with the conferment of the activities of Worldex to a new company and the subsequent sale of the shares of the company.
With this €7.5m (£6.4m) acquisition, Fiera Milano brings the total number of trade fairs organised abroad to 69. Worldex has held four events in the local market in the food, hospitality and technology areas for energy-saving industries.
NCTM assisted Fiera di Milano both in the process of negotiating the agreements and in the execution of these in China through an integrated team consisting of Riccardo Papetti, Michaela Castelli and Laura Cinquini in Italy and Hermes Pazzaglini and Carlo Geremia in China.