Wednesday, August 22, 2012
Mayer Brown JSM advised Swire Resources Ltd. on the formation of a multi-million retail joint venture in China with Columbia Sportswear Co. The formation of the joint venture is the culmination of the long-standing relationship between Swire Resources Ltd. and Columbia Sportswear Co. Swire Resources Ltd., a subsidiary of Hong Kong–based conglomerate Swire Pacific Ltd., has been the exclusive independent distributor of Columbia and Mountain Hardwear–branded products in China and Hong Kong since 2004.
The joint venture, which will begin operating in Shanghai in 2014, is aimed at expanding the brands' reach into mainland China. Columbia Sportswear Co. will own a 60 percent share in the joint venture and Swire will own the remaining 40 percent. The transaction involves the acquisition of an existing PRC business and the transfer of business into a newly set up joint venture entity through a multi-stage completion.
The Mayer Brown team advising Swire Resources Ltd. was led by Hong Kong partner Martin Robertson.
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