Albany Capital’s AIM-listed special purpose vehicle Vestpa has acquired Singaporean and Chinese food company Full Fortune Holdings for £25.2m in a reverse takeover structured by Anglo-Canadian firm Fasken Martineau Stringer Saul.

Albany was advised by Fasken head of corporate June Paddock, while Stephenson Harwood partner Matthew Gorman acted for the target in Singapore. Nominated adviser Strand Partners was advised by LG partner Tom Nicholls.

Paddock said: “It was a very complex transaction. Reverse takeovers of AIM companies tend to be very complex anyway, but that was in addition to the overseas element and a very short timetable.”

Full Fortune’s subsidiaries produce soya sauce, vinegar, bean paste, animal food and other consumer food products. The group will be renamed Chinese Food Company.

Vestpa was floated on AIM in June as a cash shell. “Vestpa was looking for an interesting investment to do and came across the company,” explained Paddock.

This is the fourth AIM transaction for Fasken this month and the second time this month it has acted for Albany, which is a regular client of the firm.

Albany will hold a 20 per cent stake in the new entity.