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Clifford Chance advises Carlyle on US$25 million cornerstone investment in Fu Shou Yuan

19 December 2013

Clifford Chance advises Carlyle on US$25 million cornerstone investment in Fu Shou Yuan

Leading international law firm Clifford Chance has advised Carlyle Growth Partners IV, V.P. ("CAGP IV") on its US$25 million cornerstone investment in China's largest death services provider Fu Shou Yuan International Group Limited ("Fu Shou Yuan" or "the Company"), which will list on the Stock Exchange of Hong Kong on 19 December 2013.

Fu Shou Yuan is the largest provider of death care services in China in terms of revenue and geographical coverage. It is one of the first private company entrants into China death care services industry when it began operating a cemetery in Shanghai in 1994. The Company operates sites in eight major cities across China, and offers a complete range of funeral services ranging from the initial planning of the funeral arrangements and interment, to the organisation and hosting of the funeral and post-funeral services.

Corporate partner Terence Foo commented, "Death care services in China offers a unique investment opportunity. With the largest number of deaths in the world and growing number of deaths every year as a result of an aging population, burial and funeral services in China is a growing industry."

Terence led the transaction and was supported by associates Janet Jiang, Tianning Xiang and Adam Wang in Beijing and partner Wendy Wysong and associate Shi Lei in Hong Kong.