King & Wood Mallesons (KWM) recently advised Shenzhen Redray Biotechnology Co., Ltd. (Redray) on the successful sale of its controlling stake to FountainVest and the introduction of the investor as its new controlling shareholder.
As a leader in the domestic pet nutrition industry, Redray has been focusing on the R&D, production and sales of pet nutritional supplements and pet food since its inception in 2013. It has pioneered the pet nutritional paste product category in China and launched several bestselling products. Its Red Dog brand is a leading brand in the industry.
In this deal, KWM served as the PRC counsel to the shareholders of Redray. KWM’s involvement spanned the entire deal, covering initial preparation, transaction structuring, partial business restructuring for the sale, negotiations during the sale, drafting, revision and execution of transaction documents and the final closing. The KWM team also assisted the client in reducing the minority equity held by financial investors, providing equity incentives to employees before the sale and transforming the company from a joint-stock one into a limited liability one for closing. The team was fully recognised by the client and other intermediaries for its all-round, professional legal advice and effective solutions to Redray and its shareholders.
The KWM team was led by partners Renee Zhou and Elvis Hu who advised on business restructuring and equity sale respectively, with support from Luo Xiao, Xie Anlin, Xu Changlin, and Lin Zihao.
