Clifford Chance advises CVC on multijurisdictional merger filings for its US$1.5 billion joint venture with Shiseido in personal care business

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15 July 2021

Yong Bai, , , Richard Blewett, Carmen Puscas, Masafumi Shikakura, Itir Çiftçi, ,
Beijing, Brussels, Tokyo, Istanbul

Clifford Chance advises CVC on multijurisdictional merger filings for its US$1.5 billion joint venture with Shiseido in personal care business

Leading international law firm Clifford Chance has advised CVC on multijurisdictional merger filings for its US$1.5 billion joint venture with Shiseido, on the transfer of part of Shiseido's personal care business to a new company which is 65% held by funds advised by CVC and 35% by Shiseido. Shiseido is a global beauty brand that operates in more than 100 countries and regions.

Partner Yong Bai led the international team and was supported by senior associate Zibo Liu and associate Nan Lan in Beijing, partner Richard Blewett and associate Carmen Puscas in Brussels, counsel Masafumi Shikakura in Tokyo, and partner Itir Ciftci and associate Asli Kural from Clifford Chance's associate firm CIFTCI Attorney Partnership in Istanbul. Clifford Chance acted as international counsel and DaHui Lawyers acted as PRC counsel for filing in China.

Yong Bai said, "Our Beijing team was delighted to coordinate global merger filings for CVC on the CVC funds’ investment in one of Japan's most famous brands."

Clifford Chance's Greater China antitrust team has advised CVC on merger filings on a number of recent high profile transactions, including the privatisation of Hong Kong listed fashion retailer I.T Limited, as well as Partners Group on multijurisdictional merger filings for its acquisition of equity interest in Ecom Express.

高伟绅就CVC与资生堂在个人护理领域设立15亿美元合资公司涉及的全球反垄断申报提供法律服务

国际领先律师事务所高伟绅就CVC斥资15亿美元就资生堂的部分个人护理业务与资生堂设立合资公司（其中由CVC管理的基金持股65%，资生堂持股35%）所涉及的全球反垄断申报提供法律服务。资生堂是全球知名的顶级美妆品牌，业务遍及100多个国家和地区。

本项目团队由高伟绅合伙人兼大中华区反垄断业务负责人柏勇牵头，北京办公室团队成员刘子博和蓝楠提供主要协助。此外，布鲁塞尔办公室合伙人Richard Blewett和团队成员Carmen Puscas、东京办公室Masafumi Shikakura以及高伟绅土耳其联营所CIFTI Law Firm的合伙人Itir Ciftci和团队成员Asli Kural亦为本项目提供协助。高伟绅担任本项目的国际法律顾问，达辉律师事务所担任本项目的中国法律顾问。

柏勇律师表示：“我们北京团队非常荣幸能够再次代表CVC，并为其管理的基金投资日本最为知名品牌之一资生堂所涉及的全球反垄断申报提供法律服务。”

高伟绅大中华区反垄断团队近期曾就多项CVC的重要交易所涉及的反垄断申报提供法律服务，其中包括CVC私有化香港上市时装零售商I.T Limited的交易。此外，高伟绅大中华区反垄断团队近期还就Partners Group收购Ecom Express股权涉及的全球反垄断申报提供法律服务。