Paul Hastings on Shuanghui Spanish Deal
Paul Hastings and Linklaters have had the lead role on the joint $966 million bid by Shuanghui International Holdings Ltd and Mexican food company Sigma Alimentos SA de CV to acquire Spain’s Campofrio Food Group SA.
Shuanghui, the Chinese meat processor, will hold 36.99 percent interest in Campofrio. Sigma Alimentos, food unit of Mexican conglomerate Alfa SAB de CV, will initially hold 44.72 percent and is planning to tender for the remaining 18 percent. The offer is subject to customary closing conditions and regulatory approvals.
Paul Hastings San Diego partner Carl Sanchez teamed up with Hong Kong partners Raymond Li, Vivian Lam and Catherine Tsang to advise Shuanghui. The U.S. firm previously advised Shuanghui on its $7 billion acquisition of Smithfield Foods Inc.
Cuatrecasas, Gonçalves Pereira Barcelona partners Pere Kirchner and Gerard Correig and Madrid partner Andrew Ward acted as Spanish counsel to the Chinese company. Commerce & Finance Law Offices advised on Chinese law, while Maples and Calder acted as Cayman Islands counsel.
Linklaters Hong Kong partner Betty Yap advised Sigma Alimentos.
Campofrio did not hire external counsel for the deal.