We advised Liesheng on the acquisition of Suunto from Amer Sports. Liesheng is a leading Chinese technology company that focuses on wearable smart and sports electronics, whereas Suunto is an iconic global outdoor sports and adventure brand, which is especially known for its sports and diving watches.
Founded in Guangdong, China in 2015, Liesheng is an innovative global consumer electronics company whose products are sold in more than 100 countries and which serves tens of millions of users around the world. It is globally ranked at the top of the wireless audio field and has successfully developed the consumer electronics brand Haylou. Liesheng has also made forays into consumer healthcare, IOT and big data.
The transaction was an excellent example of Borenius’ capabilities in Sino-Finnish transactions. With over a decade of experience in maintaining a China focus, we are well-equipped to bridge gaps in legal, business environment and language barriers between China and Finland. Our expertise also makes us the preferred choice of legal advisor for both Finnish and Chinese companies in transactions between Finland and China.
The closing of the transaction is subject to approval by the relevant authorities and other entities and on the fulfillment of certain commercial conditions. The parties have agreed not to disclose details of the transaction. The transaction is expected to close in the first half of 2022.