Entering Chinese market through acquisition
A leading global retailer sought to enter the Chinese market through acquisition of a domestic retail chain. Despite the company's financial strength and excellent reputation, the transaction was threatened by local opposition.
The ASG Approach
ASG’s China team developed a strategy to secure government approval of the transaction. We first identified and engaged key Chinese officials and other stakeholders who might be willing to support approval for the acquisition. We then maintained close contact with officials and agencies involved in the government approval process to monitor progress and immediately address challenges as they arose. Our client also leveraged U.S. government advocacy in support of the investment, and the strategy culminated in a visit by a U.S. Cabinet Secretary.
Our client received approval of the acquisition in record time. The transaction was announced at a public event with senior U.S. and Chinese government officials, providing the company with significant positive publicity during its China market debut.