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ZhongYin Assists Shanghai Chuanmi to Acquire 100% Equity of Longworth

2019.10.16  

Author: Zhong Yin Law Firm   

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Recently, with the assistance of ZhongYin Law Firm, Shanghai Chuanmi Trading Co., Ltd. (hereinafter referred to as “Shanghai Chuanmi”) has successfully acquired 100% equity in Russia Longworth Wood Harvesting Co., Ltd. (hereinafter referred to as “Longworth”). Since April 2019, the team led by Ma Xiao and Yu Limiao, partners of ZhongYin, as the special legal counsel to Shanghai Chuanmi, with the assistance of local well-known law firms, has provided full-process legal services for the project, including legal due diligence, participation in designing transaction structure, drafting transaction documents, etc.

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Shanghai Chuanmi is a secondary subsidiary of China Forest Farm Group Corporation Limited. In the context of connecting the “One Belt and One Road” Initiative of China and the “Eurasian Economic Union” of Russia and other countries, based on Russia’s rich forest resources and huge space for cooperation in the fields of harvesting, processing, transportation and trade, Shanghai Chuanmi is committed to overseas forestry development and actively promotes the acquisition of overseas forest land. This acquisition is to implement the Group's strategic decision “to go global”.

Longworth is a limited liability company legally registered under the Russian law in Gulajer Town, Priluzsky District, Komi Republic. It was established on November 18, 1996 and has 70,000 hectares of forest resources.

ZhongYin Law Firm is one of the earliest domestic law firms to set up an investment and M&A team. It has participated in numerous large-scale foreign investment projects. It has long been active in the practice area of investment and M&A, and has trained a large number of top legal experts in this area. It deeply engages and has rich experience in practicing in foreign direct investment (FDI), overseas investment by domestic enterprises, investment in and M&A of listed companies, and other fields.