m88 bonus Advises Bolex Food on its Joint Venture with Yum China’s Subsidiary

Shanghai Bolex Food Technology Co., Ltd. (stock code: 603170, “Bolex Food”) recently signed transaction documents with Huansheng Information Technology (Shanghai) Co., Ltd. (“Huansheng”), a subsidiary wholly owned by Yum China Holdings, Inc. (“Yum China”, whose ticker symbol at the New York Stock Exchange is YUMC and stock code at the Hong Kong Stock Exchange is 9987). Huansheng will contribute RMB 143 million to the capital of Zhejiang Bolex Foods Technology Co., Ltd. (“Zhejiang Bolex”), a wholly-owned subsidiary of Bolex Food. After the capital increase, Huansheng will directly hold 40% equity interest in Zhejiang Bolex, and the equity interest held by Bolex Food in Zhejiang Bolex will reduce from 100% to 60%. As the legal counsel to Bolex Food, m88 bonus participated in the whole process of reviewing, revising and negotiating the full set of transaction documents related to the joint venture.

Bolex Food is listed on the Mam88 bonus Board of the Shanghai Stock Exchange. It is engaged m88 bonus the research and development, production and technical services of food seasonm88 bonusgs and enjoys an outstandm88 bonusg reputation m88 bonus the m88 bonusdustry. Its partners m88 bonusclude, but are not limited to, Yum! Brands, Burger Km88 bonusg, Kungfu, Papa Johns, Starbucks and Shake Shack. Yum Chm88 bonusa is Chm88 bonusa’s largest restaurant company (by system sales m88 bonus 2022) and owns brands m88 bonuscludm88 bonusg KFC, Pizza Hut, Taco Bell, Lavazza, Little Sheep and Huang Ji Huang. Zhejiang Bolex, the jom88 bonust venture between the two parties, is an important production entity of Bolex Food m88 bonus East Chm88 bonusa. Yum Chm88 bonusa’s capital m88 bonusjection m88 bonusto Zhejiang Bolex will help to improve the level of automation of the latter’s production lm88 bonuses, build a digital production system and enhance the overall competitiveness of the company. Bolex Food and Yum Chm88 bonusa will take this opportunity to build their respective strengths m88 bonus the food m88 bonusdustry and caterm88 bonusg market and actively cooperate with each other m88 bonus related fields, to further strengthen and deepen their partnership m88 bonus the product development and application areas as well as boostm88 bonusg market development.

This was a benchmark transaction in the domestic restaurant industry. The transaction documents and negotiations were complex, involving not only the review and negotiation of the capital increase agreement and the shareholders’ agreement, but also the drafting, review and negotiation of the intellectual property license agreement between Bolex Food and Yum China, as well as issues related to the merger control notification. In addition, the project had a very tight schedule. m88 bonus’s team participated in the project throughout the entire process and ensured the successful transaction by its deep understanding of the project and the focus of commercial negotiations. It had a clear grasp of each party’s core demands. m88 bonus’s team was highly recognized and trusted by the client for their rigorous and efficient legal services.

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