DLA Piper has advised a consortium comprising China’s Qumei Home Furnishing Group and Huatai Zijin Investment on the acquisition of Ekornes, the largest furniture manufacturer in the Nordic region, for an total consideration of approximately NOK 5.1 billion (US$630.75 million).

Commenting on this transaction, lead partner Qiang Li (aka LQ) said: "We are delighted to have advised on this landmark transaction, which is the first major transaction between China and Norway since the two countries normalized their relationships. It has required advice across multiple jurisdictions including China, Norway, Thailand, Germany, Vietnam, Luxembourg and the United States, and showcases DLA Piper's outstanding global capabilities."

The DLA Piper team was led by Co-Regional managing partner in Asia, Qiang Li (LQ), assisted by Corporate partners Fredrik Lykke (Oslo), Stewart Wang (Shanghai) and James Chang (Beijing). Other key partners included: Magnus Brox (Oslo, Corporate), Dag Thomas Hansson (Oslo, Finance & Projects), Xavier Guzman (Luxembourg, Finance & Projects), Matthias Schemuth (Hong Kong, Finance & Projects), Nathan Bush (Singapore, Antitrust, Litigation & Regulatory), Daniel Eisner (New York, Corporate) and Nils Krause (Corporate, Hamburg).

Qumei Home Furnishings Group Co., Ltd. is a leading large-scale and standardized furniture group in China and integrated with designing, manufacturing and marketing. It offers integrated household solutions for consumers.

Huatai Zijin Investment Co., Ltd. is a direct wholly-owned subsidiary of Huatai Securities Company Limited (a public company which provides comprehensive financial services in and outside China) and a key subsidiary for Huatai's private equity fund management business. It has been focusing on the private equity investment in retailing market.