DLA Piper has advised China Eastern Airlines (CEA), one of the largest Chinese airlines operating domestic, regional and international routes, on its strategic investment in Euronext Paris listed Air France-KLM (AFK). Through this transaction, CEA and SkyTeam alliance member Delta Air Lines (Delta) have each acquired a 10 percent stake in AFK’s share capital within the framework of reserved capital increases. The transaction closed on 3 October 2017.
The new partnership will help AFK secure more access to the booming Chinese air travel market, especially to Shanghai, where CEA is headquartered, and which is also China's biggest business market. It will also help strengthen AFK’s control over trans-Atlantic flights.
The DLA Piper team was led by Corporate partners Qiang Li and Stewart Wang in Shanghai, and Corporate partner Jeremy Scemama in Paris. Other team members include Corporate senior associate Joyce Du and associate Lily Li in Shanghai, Corporate senior associate Arnaud Lafarge and associate Radu Valeanu in Paris, Finance and Projects partner Paul Lee and associate Fion Law in Hong Kong, Antitrust and Competition partner Nathan Bush in Singapore, Corporate senior associate Nicolas Marchand, associate Rachida Benhalima and Mateusz Glowacki in Luxembourg, Corporate partners Casper Hamersma and advocaat Laura Smit in Amsterdam, and partner Alexandra Kamerling in the Brussels office.