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Paul Hastings Represents Shuanghui International Holdings Limited in US $7.1 Billion Acquisition of Smithfield Foods

May 29, 2013

Hong Kong/New York/San Diego - Paul Hastings, a leading global law firm, announced today that the firm is representing Shuanghui International Holdings Limited, the owner of China’s largest publicly-traded meat processing enterprise, in a US$7.1 billion agreement to acquire Smithfield Foods, Inc. (NYSE: SFD), the largest U.S. publicly-traded pork processor and hog producer. The combination will create one of the largest global pork production, processing and packaged meat companies in the world.

Paul Hastings also advised Shuanghui on the financing associated with the transaction. The transaction will be financed through a combination of cash provided by Shuanghui, rollover of existing Smithfield debt, as well as debt financing that has been committed by Morgan Stanley Senior Funding, Inc. and a syndicate of banks.  The global footprints of Shuanghui International and Smithfield Foods necessitated close coordination of a large multi-national team of Paul Hastings attorneys spanning many disciplines to structure and prosecute the transaction.
The Paul Hastings global team on this complex transaction was led by

, Partner and Chair of Greater China, who ensured seamless coordination between Shuanghui and our multi-jurisdictional team of lawyers on legal issues relating to M&A, employment, finance, global trade and tax.

Paul Hastings chair of Global Merger & Acquisitions

, Finance partner  and Global Trade partner  led the Paul Hastings team in the US, which also included associates , , and . The Hong Kong M&A team was led by partner , with support from associates and .

Partners from the Washington D.C., New York, Los Angeles, London and Paris offices of Paul Hastings were also critical members of the overall effort, including

, , , , , , , and and , and associates , , Donald Boyajian, and .

The closing of the transaction is expected in the second half of 2013. The closing is subject to customary closing conditions, including shareholder approval, and the receipt of antitrust approval under applicable anti-competition laws.

Paul Hastings previously advised Shuanghui International and its subsidiaries in a series of offshore shareholding restructurings and a highly complex asset restructuring and the resultant $2.5 billion general offer to acquire A-shares in Shuanghui Investment. This transaction was one of the largest public company M&A transactions in China and was awarded "M&A Deal of the Year 2012" by China Business Law Journal.

Paul Hastings is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.

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