On 18 July 2019, Red Star Macalline Group Corporation Ltd.("Red Star Macalline"), a leading home improvement and furniture retail brand, officially announced its strategic investment in Shandong Inzone Green Home Co., Ltd.("Inzone Green Home"), a leading home furniture company in Shandong Province. Red Star Macalline will invest in Inzone Green Home through capital increase and equity acquisition. After the transaction, Red Star Macalline and Shandong Commercial Group Co., Ltd. ("Lu Shang Group") will each own 46.5% of the equities of Inzone Green Home and jointly control Inzone Green Home. In the future, Red Star Macalline will be in charge of the overall mall operations of Inzone Green Home, and further improve the management, efficiency and vitality of the existing malls of Inzone Green Home.
As one of the first key SOE mixed-ownership projects in Shandong, the collaboration between Red Star Macalline and Inzone Green Home will enhance both businesses' competitiveness and increase their influence within the home improvement and furniture retail industry and will promote the integration, transition and upgrade of the industry in general.
As the legal counsel of Red Star Macalline, Llinks provided a full range of legal services for its foregoing transaction, including: executing a due diligence, negotiating transaction documents and declaring the concentration of undertakings.
