YOON&YANG

Yoon & Yang provided KT&G with comprehensive legal advice on a multi-stage cross-border deal involving KT&G’s establishment of a special purpose company (SPC) in Sweden, the Swedish SPC’s acquisition of 100% of the equity interests in Another Snus Factory Stockholm AB and Another Snus Factory Oslo AS from ASF Group, followed by KT&G’s subsequent sale of a 49% stake in the Swedish SPC to Altria Group.

The transaction featured a highly complex, multi-jurisdictional structure involving a joint investment between a Korean company (KT&G) and a U.S. company (Altria Group) implemented through a Swedish SPC to acquire Swedish and Norwegian target companies from a Swiss company (ASF Group), requiring careful navigation of legal and regulatory considerations across multiple jurisdictions.

Yoon & Yang provided end-to-end legal support throughout the transaction, including:
(i) negotiation with Altria Group on the joint investment;
(ii) transaction structuring and drafting of transaction documents;
(iii) legal due diligence of the target companies;
(iv) establishment of the Swedish SPC; 
(v) acquisition of the target companies by the Swedish SPC and the subsequent sale of the Swedish SPC shares to Altria Group.

This multifaceted, multi-jurisdictional transaction encompassing joint investment, SPC formation, and acquisition and subsequent resale of equity exemplifies the depth and breadth of Yoon & Yang’s expertise and experience in cross-border M&A and international regulatory advisory services.