Freshfields Bruckhaus Deringer (‘Freshfields’) advised Fosun Gold Holdings Limited (‘Fosun’) on its £256m all-cash offer for Gemfields plc (‘Gemfields’), a world-leading supplier of responsibly sourced coloured gemstones listed on AIM. Fosun’s offer of £0.45 per share, which was announced on 20 June 2017, was part of a competitive bid situation. The Fosun offer represented an 18.2% premium on the competing offer and was recommended by the Gemfields board. However, on 26 June 2017 the Fosun offer lapsed in accordance with its terms upon the competing offer for Gemfields becoming wholly unconditional.
 
Fosun is a Chinese multinational conglomerate and investment company listed on the Main Board of the Hong Kong Stock Exchange. As at December 31, 2016, Fosun’s total assets exceeded RMB480 billion and it is principally engaged in three core business segments of health, happiness and wealth.
 
The Freshfields team is being led by corporate partners Philip Li, Stephen Hewes and Andrew Hutchings. Antitrust advice is being provided by partner Alastair Mordaunt and counsel Ninette Dodoo. People and Rewards advice is being provided by partner Kathleen Healy. Tax advice is being provided by partner Helen Lethaby.