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1 Dec 2017
On November 27, 2017, the Sixth Summit of Heads of Government of China and Central and Eastern European Countries (“CEEC”) was held in Budapest. Premier Li Keqiang and 16 CEEC leaders attended the summit. As one of the transactional achievements between China and the CEECs, in the presence of Premier Li Keqiang and other leaders, China International Capital Corporation Limited (“CICC”) signed a confirmatory agreement regarding its investment in Latvian cosmetic producer Stenders.
Established in 2001, Stenders produces and sells bath and body care products and other cosmetics in 27 countries. DaHui Lawyers acted as CICC’s lead counsel on this deal, advising on all aspects of the transaction, including financing, deal structure, debt repayments, escrow arrangement and closing, and coordinating the work of both Latvian and Hong Kong counsel.