MoFo Represents Kodak China in Landmark $100 Million Acquisition in China

11/17/2003

Press Release

Hong Kong (November 17, 2003) - Morrison & Foerster (MoFo) represented Kodak China in its acquisition of 20% of the outstanding shares of Lucky Film Co. from the Chinese government and in negotiating a related strategic cooperative alliance. Lucky Film is the largest domestic photographic film manufacturer in China and is listed on the Shanghai Stock Exchange. The total value of the transaction is approximately $100 million, and it is the largest ever acquisition of State-owned shares of a public Chinese company.

Kodak's acquisition of State-owned shares in Lucky Film represents a landmark development for multinational companies entering China because foreigners were prohibited from holding such shares until recently.

The MoFo team was led by Hong Kong partner Rupert Li.

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