Shearman & Sterling advises on the largest ever outbound investment by a Chinese company in the garment industry
Hong Kong, 7 November 2007 - Shearman & Sterling LLP has advised Kellwood Company (NYSE:KWD) on the sale of its Smart Shirts manufacturing operations to Youngor Group Co. Ltd, one of China's largest fabric manufacturers, for approximately US$120 million in cash. This is the largest outbound investment made by a Chinese company in the garment industry to date.
The transaction is expected to close by the end of the fiscal year 2007 and is subject to a number of customary closing conditions, including regulatory approvals.
Paul Strecker, M&A Partner at Shearman & Sterling inHong Kong , led the team, working with associates Shirley Lo, Fang Xue, and Stella Zheng in
Hong Kong, Crystal Liang inBeijing and Partner Laurence Crouch and associate Anthony Epperts in Menlo Park
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The transaction is expected to close by the end of the fiscal year 2007 and is subject to a number of customary closing conditions, including regulatory approvals.
Paul Strecker, M&A Partner at Shearman & Sterling in
Hong Kong, Crystal Liang in
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