Latham & Watkins Advises The Nuance Group in its Acquisition of Watson’s Stake of the Nuance-Watson Joint Ventures
07 Jul, 2014
The Nuance Group AG (“Nuance”), a leading global travel retailer, has reached an agreement to acquire, directly and indirectly, from A.S. Watson Group (“Watson”) its 50% stake of the Nuance-Watson joint ventures which operate travel retail business in Hong Kong, Singapore, Malaysia, Macau and China. Upon completion of the transaction, which remains subject to the airports’ approvals, Nuance will become the sole owner of the joint ventures.
With regional headquarters based in Hong Kong, Nuance operates 70 stores in Asia, including locations in Hong Kong International Airport, Singapore Changi Airport, China Zhuhai Airport, KLIA 2 in Malaysia and The Venetian Macao, with new stores opening in Xiamen later this year.
Latham & Watkins LLP represented The Nuance Group with an international deal team led by Milan partner Stefano Sciolla, Hong Kong partner Jane Ng and Singapore partner Sin Chei Liang supported by associates Filippo Benintendi, Hong Yee Yu and Lyndon Tan from the Milan, Hong Kong and Singapore offices respectively