Hong Kong - Skadden Advises Auchan Retail International In The US$ 3.6 billion sale of its controlling stake in Sun Art Retail Group Limited to Alibaba Group Holding Limited.
Legal News & Analysis - Asia Pacific - Hong Kong - Capital Markets
20 October, 2020
Skadden is advising French food retailer Auchan Retail International S.A. ("Auchan Retail International") in its US$ 3.6 billion sale of 70.94% of A-RT Retail Holdings, a company which holds 51% of Sun Art Retail Group Limited ("Sun Art") to Taobao China Holding Limited ("Taobao"), an indirect wholly-owned subsidiary of Alibaba Group Holding Limited. Sun Art, listed on the Hong Kong Stock Exchange, is the largest hypermarket operator in China, employs 150,000 people and operates 484 hypermarkets throughout China. Auchan Retail International operates in 14 countries, with 2,293 points of sale.
The Skadden team includes corporate partners Jonathan Stone and Christopher Betts, counsel Andrew Cohn and associate Arthur Chan (Hong Kong); tax partner Alex Jupp and associate Joseph Hone (London); dispute resolution partner Rory McAlpine and counsel Wilfred Ho (Hong Kong); intellectual property & technology partner Bruce Goldner and associate Christine McLellan (New York); antitrust partner Andrew Foster (Hong Kong); and banking of counsel John Hartley (Hong Kong) and associate Rosanna Passmore (Beijing).