Gangtai Group Corporation Ltd completes EUR230m acquisition of Buccellati

02 Aug 2017

International law firm Simmons & Simmons has advised Gangtai Group Corporation Limited (Gangtai Group), a leading private owned conglomerate from China, on the completion of its 85% stake acquisition of Buccellati Holding Italia S.p.A., a prestigious Italian luxury jewellery brand with close to 100 years of history. Buccellati was previously owned by Clessidra SGR S.p.A. and the Buccellati family.

The transaction moves Buccellati into one of the most prominent jewellery groups in China with the potential to expand the brand globally.

Commenting on the transaction, partner Eric Lin, said: "We are delighted to have advised Gangtai Group on this high profile Chinese M&A transaction in Italy and we see further opportunities for growth in this space. It was our sustained team efforts from our Beijing, Milan, Paris and London offices and its deep knowledge in managing Sino-European M&A deals that pushed this complex transaction over the line."

Dario Spinella, Simmons & Simmons corporate partner based in Milan, added: “Having a leading role on this deal represents a strong recognition from the market of the excellence of our Italy-China Desk focusing on both inbound and outbound activities towards Italy, and more generally Europe, also leveraging on the synergies with our international network.”

Zhou Feng, the vice chairman of Gangtai Holding, commented: "This transaction marks an exciting development for Gangtai, confirming plans on growing further our presence in the international luxury sector. We are hugely appreciative of the first class professional advice we received from the Simmons & Simmons team throughout the whole process and very successfully completion of the transaction."

The Simmons & Simmons Italy-China team was led by partners, Dario Spinella, in Milan, and Eric Lin, in Beijing, with assistance from a core team of Milan senior associate Carlotta Robbiano, associate Paolo Guarneri and trainee Guido Bianco and Beijing associate Megan Wang and trainee Donia Chu. Further advice was provided by Milan managing associate Pietro Pouché (IP), Milan partner Davide Sportelli and associate Ottavio Sangiorgio (employment), Milan partner Augusto Santoro (equity incentives), managing associate Riccardo Rossi (financing), Beijing partner Yongmei Cai, Hong Kong supervising associate Catherine Kwong and trainee Annabelle Wong (bridge financing).

 

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