In January 2006, shareholders of state-owned shares of Fujian Sedrin Brewery Co., Ltd.(Fujian Sedrin), the largest brewery in both Fujian Province and Jiangxi Province and ranked 8th nationally, transferred 39.48% state-owned shares of Fujian Sedrin to Belgium's InBev Group (InBev), the world's biggest Brewery, after a two-round bidding procedure. Simultaneously, the non-state-owned shares of Fujian Sedrin were also transferredto InBev. The total transaction value exceeds RMB 5.886 billion (equivalent of EUR 614 million). The competing bidders are famous international and domestic brewers, including Budweiser, Heineken, SAB, Scottish&Newcastle and Yanjing Beer. The transaction is so far the biggest M&A transaction nationwide in the brewery industry and also the largest M&A transaction in Fujian Province.
Llinks advised Fujian Sedrin as its legal counsel in legal aspects, including advising on pre-acquisition restructuring, public bidding procedure, preparing bidding invitation documents, managing procedures, due diligence, drafting and revising transaction documents, and negotiation with the preferred bidder.
