RuiMin is a comprehensive law firm that focuses on providing efficient, professional and innovative legal services to its clients. RuiMin brings together cutting-edge domestic expertise from some of China's most respected legal practitioners to offer seamless and comprehensive PRC legal advice on complex and high-profile transactions, regulatory and disputes matters. Our team's strong PRC law capability is backed by a global mindset, enabling us to offer commercial and strategic thinking tailored to every client, from international MNCs or financial sponsors working in China through to leading Chinese enterprises looking to access international markets. This article will introduce some representative cases that RuiMin's global transaction team participated in the past 2022-2023 year.

Cross-border / Domestic M&A

Advised Midea Group on its acquisition of minority interest in several joint ventures from Toshiba Carrier Corporation

RuiMin represented Midea Group (000333.SZ), in its acquisition of the minority equity interest held by Toshiba Carrier Corporation (TCC) in several joint ventures established by Midea Group and TCC in China. Midea Group and TCC are both global leaders in the air conditioning industry.

Advised Yuyuan on its US$569.65m sale of International Gemological Institute (IGI) to Blackstone

On May 21, 2023, Blackstone (NYSE:BX) announced that private equity funds managed by Blackstone have acquired International Gemological Institute (“IGI”) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (600655.SH), a subsidiary of Fosun International and the founding Lorie family with a total consideration of US$569.65m. RuiMin advised Yuyuan on the Chinese legal matters involved in the transaction.

Represented CVC Capital Partners, in its acquisition of a leading international freight forwarder Scan Global Logistics (SGL)

On February 6, 2023, Scan Global Logistics (SGL), headquartered in Denmark, announced that funds controlled by CVC Capital Partners entered into a share purchase agreement with an investor group led by AEA Investors Small Business Private Equity (AEA), and has agreed to acquire a majority shareholding in the SGL from the investor group. SGL offers end-to-end, logistics and freight forwarding solutions tailor-made for each region, vertical and individual customer and holds leading positions in various key verticals. RuiMin represented CVC Capital Partners in its acquisition of SGL and provided legal services for Chinese legal matters involved in the transaction. 

Represented an international institutional investor on its due diligence and its acquisition of an internationally renowned packaging enterprise

In September 2022, an international institutional investor announced that it has acquired a co-control stake in an internationally renowned packaging enterprise. RuiMin represented this international investor, in its due diligence over the packaging enterprise's equity interest and assets located in China and provided related legal services for its acquisition of co-control stake.

Represented Li & Fung Limited in its spin-off and buy back of the international freight management business from its   transferred assets

RuiMin represented Li & Fung Limited, a global leading provider of supply chain solutions, after selling its subsidiary LF Logistics Holdings Limited (LF Logistics) to A.P. Moller-Maersk Group, in its spin-off of the international freight management business located in China from LF Logistics and buy-back of such international freight management business. RuiMin assisted on the local transfer involved in the transaction at PRC level.

Represented OSRAM in its sale of equity interests and assets in China and other countries to Inventronics

On June 16, 2022, an A-share listed company Inventronics (300582.SZ) announced in its major asset purchase plan that it entered into an equity and asset purchase agreement with OSRAM, agreeing to purchase the equity and assets related to digital lighting systems located in China, Germany, Italy and other places from OSRAM at a price of approx. EUR 74.5 million. OSRAM is a leading global manufacturer of lighting equipment and one of the world's largest manufacturers of optoelectronic semiconductors and optical solutions providers. As of June 29, 2023, all equity assets under the relevant transaction have been transferred. RuiMin represented OSRAM in its sale of the relevant equity and assets in the above transaction and provided legal services for the equity/assets transfer and due diligence at the PRC level.

Represented Sandvik AB in a series of transactions to acquire the equity of Suzhou Ahno Precision Cutting Technology Co., Ltd. from Ningbo Baosi

On October 25, 2022, Ningbo Baosi (300441.SZ) announced that it and the other minority shareholders of Suzhou Ahno Precision Cutting Technology Co., Ltd. (Suzhou Ahno) have entered into a series of transaction agreements with Sandvik AB, agreeing to transfer 12.44% of the equity of Suzhou Ahno to Sandvik AB at a total consideration of approximately CNY 340 million, and granting Sandvik AB the call option to acquire the remaining equity of Suzhou Ahno in 2024. Suzhou Ahno's overall enterprise valuation in this transaction was approximately CNY 2.7 billion, and this transaction was closed as of November 25, 2022. Sandvik AB is a global leader in advanced product manufacturing, with its main businesses focusing on metal cutting tools, construction and mining equipment facilities, and specialty materials such as stainless steel and transmission systems. RuiMin advised Sandvik AB on general legal due diligence and transaction documents in this transaction.

Apart from the transaction above, RuiMin also advised Sandvik AB on its series of proposed acquisitions in China.

Data Compliance

Advised Suzano S.A. on its Chinese subsidiary's network security compliance related legal matters

RuiMin advised Suzano S.A. (NYSE:SUZ、B3:SUZB3), a Brazil incorporated world leading Pulp and paper manufacturer, on its Chinese subsidiary's IT-related legal matters, and provided legal advice and solutions to Chinese subsidiary's operations and data compliance in China. 

Advised a foreign bank with PRC operations on the license and data compliance-related matters related to the operation of its app

RuiMin advised a foreign bank with PRC operations, on the license and data compliance-related matters related to the operation of its wealth management app, including the financial institution license, internet service provider license, personal data processing, cross-border data transfer and other relevant PRC legal issues.

General Advice

Advised Midea Group on various PRC legal matters related to its corporate governance, investment and acquisition projects

RuiMin advised Midea Group on various PRC legal matters related to its corporate governance, investment and acquisition projects. Midea Group is a global technology group covering five major business sectors including smart home, building technologies, industrial technologies, robotics & automation and digital innovation.

Advised China Resources on various PRC legal matters related to its daily operations and corporate governance

RuiMin advised China Resources on various PRC legal matters related to its daily operations and corporate governance. China Resources is a large state-owned enterprise group directly supervised by the State-owned Assets Supervision and Administration Commission of the PRC State Council, and has leading operations in industries such as retail, beer, gas, commercial real estate, pharmaceuticals, and healthcare.

Advised a joint venture company of Perstorp Group in China on various PRC legal matters

RuiMin advised a joint venture company of Perstorp Group on various PRC legal matters related to foreign investments and business operation in China. Perstorp Group is a global leader in multiple fields of specialized chemicals, serving numerous industries and application areas.

Advised YOUNIVERSE on various PRC legal matters

RuiMin advised YOUNIVERSE, an international smart furniture technology company, on its PRC legal matters, including shareholding restructuring, restructuring of ESOP and other associated legal matters, employment and daily operations.