PRESS RELEASE
May 15th, 2019
Leaf has assisted GL events to acquire 55% of CIEC Union, a company operating several famous exhibitions related to the construction business. China International Exhibition Center Group (CIEC), a state controlled subsidiary of CCPIT, will remain the partner of GL events and the managers in this sino-foreign joint venture. This operation has been approved by MOFCOM on April, 30th.
Leaf has assisted GL events in their Chinese transactions in collaboration with the team of GL events for the legal due diligence, the structuring, the negotiations and the drafting of transaction documentation.
Bruno Grangier and Peggy Wu have led the Leaf Transaction Team
About Leaf
Leaf is a corporate law firm specialized in M&A transactions in China. The team, composed of Chinese and international corporate lawyers, advises mid-cap enterprises and international corporations for their M&A operations in China, their joint-ventures with public and private Chinese players or to structure investment in Asia. Leaf’s team has recently received the award of the M&A Cross-Border Transactions Firm of the Year in China by Finance Monthly and recognized as a member of league of Valuable Practice in M&A by Leaders League in 2018.
About GL events
As an integrated Group operating in all event professions, GL events works in three major segments: event organization, event venue management and services for fairs, congresses and events. GL events assists companies, institutions, and event organizers at every stage of the process from the definition of their event strategies to final implementation in the field. Recently, GL Events has announced 2018 consolidated revenues topping €1bn.
About CIEC Union
CIEC Union operates 6 major exhibitions:
CIEC Union, which has one hundred employees, is expected to generate €40 million in revenue in 2019 with an operating margin of more than 35%. It has a track record of sustained growth driven by an emerging middle class, rising domestic consumption, rapid urbanization and the Chinese Government’s focus on developing the country’s major economic zones.
For further information:
Bruno Grangier – b.grangier@leaf-legal.com
