FFW advises on acquisition and flotation of Chinese media company
07 July 2006
Field Fisher Waterhouse LLP (FFW) has advised on the £70 m
acquisition and AIM flotation of Chinese media organisation, Sun TV
Shop. The newly formed company will provide a route for
western luxury brands to sell to China, through TV shopping
channels, the internet and mobile phones.
Sun TV Shop is being launched by leading Chinese media
entrepreneur, Bruno Wu, and his TV personality wife, Yang
Lan. FFW advised Sun TV Shop on the £70 million acquisition
of a telecoms network and a host of leading Chinese television
rights from Sun Media Group. Wu is Chairman of the venture.
Once it had acquired various media assets and rights, Sun TV Shop
was admitted to AIM with a value of £72 million. The company
expects to sell luxury products, electronics, personal care
products and branded beverages to Chinese consumers.
This is the first flotation of a Chinese media company on AIM
and is one of only 27 Chinese companies listed. The deal once
again demonstrates FFW’s position as a market leader in the AIM
sector, bringing the total number of AIM floats the firm has acted
on this year up to 16 and the number of listed transactions to over
30.
FFW corporate partner, Alex Woodfield led the deal, assisted by
lawyers across the firm including corporate partners, Neil Foster
and Patrick Cannon, media partners, Tony Ballard and Jeremy Miles
and David Naylor and Simon Briskman, partners from the
technology group.
Alex Woodfield said, “This was an exciting deal for us to work
on. Bruno Wu and Yang Lan are both big names in China and
their plan to sell premium goods to the booming consumer market in
China will no doubt be very successful.”
DLA Piper in Hong Kong advised Sun Media Group on the disposal
of media assets to Sun TV Shop. The flotation was handled by
brokers, Corporate Synergy, who were advised by Richards
Butler.
For further press information please contact:
Ben Girdlestone, Communications Manager, Field Fisher
Waterhouse LLP on 020 7861 4968
Louise Eckersley, PR Executive, Field Fisher Waterhouse LLP on
020 7861 4120