17 December 2013
Clifford Chance advises EQT on buyout of China F&B Group
Beijing: Leading international law firm Clifford Chance has advised EQT Partners Asia Ltd. ("EQT") on its leveraged majority buyout of China F&B Group.
China F&B Group operates the franchise of two renowned international chains, Dairy Queen and Papa John's Pizza in the PRC. They are respectively the largest ice cream restaurant chain and the second largest pizza restaurant chain in China.
Corporate partner Terence Foo commented, "We're pleased to have worked with EQT on another important investment in the region. The quick service restaurant (QSR) market is part of the fast-growing restaurant sector in China, driven by the increasing disposable income and food consumption expenditure by the Chinese consumer."
EQT led a consortium of investors including SEB Private Equity and General Oriental Investments. The acquisition was also funded by mezzanine financing. The transaction was closed after receiving approvals.
The Corporate team was led by Beijing partner Terence Foo and Hong Kong partner Simon Cooke and supported by senior associates Zhang Hong, Paula Liu and Mark Hultum and associates Nakisa Jobling, Carolyn Huang and Zhonghua Shi, based in Shanghai, Beijing and Hong Kong. The Finance team was led by partner Peter Kilner, supported by senior associate Vivian Wong and associate Elizabeth Schultz, all based in Hong Kong.