Fangda Partners represented KIRIN HOLDINGS COMPANY, LIMITED (“Kirin”) in its sale of 40% stake in a joint venture established with China Resources (“JV”) to Plateau Consumer Limited. The aggregate consideration is approximately USD 1 billion. The JV was established in 2011, with Kirin and China Resources holding 40% and 60% shares of the JV respectively. The definitive share purchase agreement was signed on February 16, 2022. Following the consummation of the transaction, Kirin will exit the JV, while it will continue part of its business partnership with China Resources. This transaction was led by Fangda partner Haiping Sun, and the team members include counsels Chen Lu and Xiaote Jin, and associates Echo Qin, Elisa Liu, Bingyan Xu, and Jinjin Lu.