Fortune Fountain Capital (“FFC”), a prominent Asian financial group established as a family office, announced that it has completed the acquisition of 88.8% of the share capital of Baccarat S.A., the internationally renowned French luxury crystal Maison, listed on Euronext Paris, from affiliates of Starwood Capital Group and L Catterton.

FFC acquired the shares from the Starwood Capital Group and L Catterton affiliates at a price of €222.7 per share (the "Block Purchase"). This transaction follows the completion of the work council consultation process in France and certain regulatory approvals in the People's Republic of China.

The closing of the Block Purchase will be followed by the filing with the Autorité des Marchés Financiers (the "AMF") of a mandatory tender offer for the remaining outstanding shares at the same price per share as the Block Purchase so that the AMF decides on the conformity of the draft tender offer.

Clifford Chance advised FFC on this transaction with a team composed of Thierry Schoen (partner), Aline Cardin (partner) and Xavier Petet (counsel) in Paris, Fang Liu (partner) in Hong Kong and Katia Gauzès (partner) in Luxembourg.