Freshfields Bruckhaus Deringer and Reed Smith Richards Butler are advising U.K. supermarket chain Tesco Plc. and China Resources Enterprise Ltd. on a possible combination of their Chinese retail operations.
The two companies announced last Friday they were in exclusive talks to form a joint venture, which would merge Tesco’s 131 stores and shopping malls in mainland China with about 2,986 stores in China and Hong Kong controlled by China Resources, a Hong Kong-listed Chinese state-owned conglomerate.
