Fosun Group Buys Majority Stake in Austrian Luxury Textiles Maker

March 26, 2018

Shanghai & Frankfurt - Paul Hastings, a leading global law firm, announced today that the firm advised Fosun Group (“Fosun”), China’s largest private-owned conglomerate, in its US$40 million acquisition of a controlling 50.87 per cent stake and a follow-up capital increase in Vienna-listed luxury textiles maker and lingerie brand Wolford. This will trigger a mandatory takeover offer for the whole business.

Paul Hastings has represented Fosun on several key outbound transactions over the years including its recent acquisition of Brazilian brokerage and wealth management firm Guide Investimentos, in its participation in the acquisition of Canada’s Cirque Du Soleil, and in its acquisition of a majority stake in Resolution Property Investment Management, the London-based private equity real estate fund manager.

The multi-jurisdictional Paul Hastings team was led by Shanghai-based partner Jia Yan and Frankfurt-based partner Christopher Wolff, with support from associate Stancy Qian.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.