The local Guangdong company Zhongshan MaEr Daily Products Co., Ltd. (“Zhongshan MaEr”) sold its personal care brand to Wipro Singapore Pte. Limited, an associate company of the famous daily chemical Indian company Wipro Group (“Wipro”, stock code: WPRO) through share transfer. The initial purchase price is 640 million yuan, and there is a deferred consideration.

Zhongshan MaEr owns personal care brands such as Enear, Zici, Vcnic, as well as clothing care brands like Pahli and Sunew. It’s a famous local brand in Guangdong, and enjoys strong competitiveness in Guangdong and Guangxi.

Wipro Group was founded in 1979 and is the leading brand of personal care products and household cleaning products in Southeast Asia. It owns 48 brands, 275 products, 1500 packages, covering personal care and household cleaning markets. It produces and sells products in 36 countries and regions in the world.

The project is very complicated in deal structure, involving multiple assets transfer and tax restructuring planning. On behalf of Zhongshan MaEr, Jingtian & Gongcheng in fully involved in providing legal services including designing deal structure, drafting and modifying documents and project negotiations.