Yuan Feng Hong (Beijing) Holdings Limited agreed to acquire a 88.8% stake in Baccarat S.A. (ENXTPA:BCRA) from Starwood Capital Group and L Catterton for approximately €160 million on June 2, 2017. Yuan Feng Hong (Beijing) Holdings Limited will acquire the stake in Baccarat at a price of €222.7 per share. Yuan Feng Hong (Beijing) Holdings Limited does not intend to have Baccarat delisted from Euronext Paris. Pursuant to the closing of the transaction, Fortune Fountain will file a mandatory tender offer for all remaining shares of Baccarat S.A. As part of the transaction, Daniela Riccardi, current Baccarat General Manager, will continue to lead Baccarat S.A. The transaction is subject to approval by French and Chinese regulatory authorities. Yuan Feng Hong (Beijing) Holdings Limited signed a share purchase agreement to acquire a 88.8% stake in Baccarat S.A. (ENXTPA:BCRA) from Starwood Capital Group and L Catterton on October 19, 2017. The completion of the transaction remains subject to certain regulatory approvals in the People's Republic of China as well as to the usual closing conditions. Company council has approved the deal. Fang Liu, Alexandre Couturier, Aline Cardin, Thierry Schoen, Fabien Goudot, Katrin Schallenberg, Xavier Petet, Katia Gauzès and Bertrand Thibaut of Clifford Chance LLP acted as legal advisors for Yuan Feng Hong (Beijing) Holdings Limited. Jacques Naquet-Radiguet and Stéphane Daniel of Davis Polk & Wardwell acted as legal advisors to Starwood Capital Group. Bernard Grinspan and Patrick Ledoux of Gibson Dunn acted as legal advisors to L Catterton. SG Corporate & Investment Banking acted as financial advisor to Yuan Feng Hong (Beijing) Holdings Limited. Thomas Bourdeaut, Léo Ouazana and Xavier Colard of Scotto & Associés acted as legal advisors for management of Baccarat S.A. Accuracy acted as vendor due diligence advisor for Baccarat. Yuan Feng Hong (Beijing) Holdings Limited completed the acquisition of 88.8% stake in Baccarat S.A. (ENXTPA:BCRA) from Starwood Capital Group and L Catterton on June 21, 2018. The transaction follows the conclusion of a process of consultation of employee representative bodies in France and obtaining certain approvals in the People's Republic of China. Patrick Wong, Nick Hallam, Jean-Christophe David, Henri Wagner, Tiffany Tam, Cristian Bulgaru and Diana Konrad of Allen & Overy acted as advisors to Fortune Fountain.