29 April 2010 - Gide Loyrette Nouel Shanghai advises SEMMARIS on the establishment of a joint venture to develop wholesale food markets in China:

Gide Loyrette Nouel (GLN) has advised SEMMARIS, the management company of the famous International Market of Rungis in Paris - the largest wholesale market in the world for fresh products, regarding the establishment of a joint venture with Shenzhen Agricultural Products Company, a leading Chinese company engaged in the production and processing of agricultural products and the establishment of wholesale markets in China. 
 
The joint venture, to be known as Shanghai Rungis Market Management, will oversee the development, construction, operation and management of new wholesale agricultural produce markets in China. SEMMARIS will hold 33.4% of the joint venture company, which will be based in Shanghai.  

The joint venture gives SEMMARIS entry into the Chinese wholesale food market for the first time. Shanghai Rungis Market Management will operate its first market in Nanning, capital city of the Southern Province of Guangxi. The newly created entity is expected to facilitate more trade between French and Chinese food producers and wholesalers.  

GLN assisted SEMMARIS in the negotiations and incorporation of the joint venture with Shenzhen Agricultural Products Company, including the preparation of all relevant legal documentation.  The GLN team was led by partner David Boitout, with assistance from associates He Jie and Stéphane Gasne.