Mergers and Acquisitions

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Mergers and Acquisitions- PipeChina acquires Kunlun Energy stake; Yatsen acquires Eve Lom; C-Lab acquires Softhale

DLA Piper advised Kunlun Energy on the sale of its 60% equity interest in PetroChina Beijing Gas Pipeline and a 75% equity interest in PetroChina Dalian LNG to the China Oil & Gas Pipeline Network Corporation (PipeChina) for a total base consideration of RMB40.89 billion (US$6.24 billion).

The sale by Kunlun Energy is aimed at optimising its business structure to allow it to actively expand its remaining relevant businesses and to progress its transformation from a natural gas distributor to an integrated green energy supplier.

The controlling shareholder of Kunlun Energy is state-owned company PetroChina, which is listed in Hong Kong, Shanghai, and New York.

Zhong Lun Law Firm advised Yatsen, the US-listed Chinese cosmetics maker, in its acquisition of French luxury skincare brand Eve Lom from Manzanita Capital.

Manzanita will retain a minority stake in the business and serve as a strategic partner.

Baker McKenzie is advising C-Lab International, a wholly owned subsidiary of Sino Biopharmaceutical, on its acquisition of Belgian drug maker Softhale for US$110 million.

Sino Biopharmaceutical is a research and development-driven pharmaceutical company in China. Softhale is a privately owned company focused on the development of products for the treatment of respiratory diseases.