Herbert Smith Freehills has advised leading Asian sportswear brand ANTA Sports Products Limited (stock code: 2020.HK) on a joint venture with Korea's Kolon Corporation (stock code: 002020.KS) and Kolon Industries, Inc. (stock code: 120110.KS).
The joint venture will principally market, sell and distribute "Kolon Sport" branded products in mainland China, Hong Kong, Macau and Taiwan.
"We're delighted to have worked with ANTA again on this transaction, the second joint venture on which we have advised it in the past year, and the third significant transaction on which we have advised since its IPO in 2007," said Hong Kong partner Matt Emsley, who led the team advising ANTA.
"The transaction required the firm's corporate, IP and competition teams in Hong Kong, Singapore, Beijing, Seoul and Australia offices to work closely together to achieve a successful outcome for the client."
Hong Kong-listed ANTA is one of the leading sportswear companies in China. In line with ANTA's multi-branding strategy, this latest joint venture, subject to regulatory clearances, aims to add Kolon's sportswear fashion brand "Kolon Sport" to ANTA's distribution stable.
Matt was assisted by corporate associates Lawrence Cheng and Maisie Ko in Hong Kong.
Hong Kong senior associate Adelaide Luke and associate Howard Chan advised on competition law aspects.