China: Market Entry
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
Our China team developed a strategy to secure government approval of the transaction, with an engagement and advocacy plan that culminated with a visit by a U.S. Cabinet Secretary. ASG identified and engaged key Chinese officials and other stakeholders who might be willing to support approval for the acquisition. We maintained close contact with various 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.
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.