Slaughter and May is advising Xian Minsheng Group - acquisition of China Shun Ke Long
Slaughter and May, Hong Kong, is advising Xian Minsheng Group on the proposed acquisition of 55.8% of the issued share capital of China Shun Ke Long Holdings Limited from its founder Lao Songsheng and certain other shareholders. China Shun Ke Long is listed on the Hong Kong Stock Exchange and operates a chain of supermarkets in China. Upon completion of the proposed acquisition, Xian Minsheng will make a mandatory general offer for the entire issued share capital of China Shun Ke Long other than the 55.8% already acquired. The total consideration for the acquisition and the general offer is approximately HK$994 million.
Xian Minsheng Group is listed on the Shenzhen Stock Exchange and is engaged in the retail chain and department store businesses in China.