Baker & McKenzie.Wong & Leow Advises LVMH on USD125.2 Million Offer for Heng Long International Ltd.
7 December 2011
Singapore, 7 December 2011 – Baker & McKenzie.Wong & Leow, the member firm of Baker & McKenzie International in Singapore, advised French luxury group LVMH Moët Hennessy - Louis Vuitton (“LVMH”) on the SGD160.8 million (approximately USD125.2 million) voluntary conditional cash offer for Heng Long International Ltd (“Heng Long”), a company listed on the Singapore Stock Exchange. LVMH and the Koh family, the founders and controlling shareholders of Heng Long, reached an agreement to jointly own and control Heng Long. The partnership will strategically complement LVMH in the procurement of high quality crocodilian skins.The team was led by the lead Partner and head of the Corporate & Securities practice Ai Ai Wong and assisted by Partner Lan Hing Liew and Associates Yifang Chen and Kelvin Chua.
LVMH, the world’s leading luxury products group with 2,500 stores worldwide, possesses a portfolio of 60 luxury brands covering wines, spirits, fashion and leather goods, perfumes, cosmetics, watches, jewellery and selective retailing.
Heng Long is one of the five top-tier tanneries of crocodilian leather in the world and is used by the luxury and high-end fashion industry. The company’s finished leather is sold directly or through distributors to US, European, Asian, South American, African and Australian luxury and fashion brands to produce watchstraps, boots, handbags, garments and other fashion accessories. The global crocodilian skins trade is controlled with limited supply from the world’s population of crocodiles and is regulated by CITES.
HSBC was the financial advisor for the transaction.