Dacheng Attorneys Advise Yancheng Hengsheng Chemicals on Stock Acquisition Deal

Recently, a Dacheng team composed of senior partner Zhao Hongji, attorney Luo Jian and Shanghai-based attorney Zheng Zhi successfully represented a chemical company in an acquisition deal.
 
The acquisition was initiated by Jiangsu Feixiang Group, a renowned non-SOE in the chemical industry aiming to take a controlling stake of Yancheng Hengsheng Chemicals Co., Ltd. (“Hengsheng Chemical”). Hengsheng Chemical is a joint venture engaged primarily in the production of chemical materials such as pyridinium chloride with production and sales of a variety of products outperforming competitors worldwide. Feixiang Group planned to grab a 70% stake in the target company in stages.
 
The team led by attorney Qian Hongji, having been entrusted with the representation, participated in the deal all the way. They were responsible for devising schemes of staged acquisition and consideration payment and measures for protecting rights and interests of the acquiree (minority shareholder) in and after the deal. The quality service they delivered was highly commended by the client. The deal has been granted approval from Ministry of Commerce at the moment.