Global law firm Dentons assisted Poste Italiane in relation to the binding framework agreement for the acquisition of a 51% stake in the voting share capital of Sengi Express, a Cloud Seven Holding Limited company. Based in Hong Kong, Sengi Express provides cross-border logistics solutions for Chinese e-commerce.

This transaction represents Poste Italiane’s first acquisition of a foreign company, giving it a foothold in China and strengthening its position in the global e-commerce market.

The closing of the transaction is expected by the end of the first quarter of 2021.

Dentons advised on the legal, contractual and corporate governance aspects of the deal. Junyi Bai, Partner in charge of the China desk in Italy, led the multidisciplinary and multijurisdictional team, which included counsel Claudio Segna and trainee Manuel Sturba in Milan, partners Bella Zhu and Calvin Chiu in Beijing, and partner Enoch Wong in Hong Kong.

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