China Haidian acquired Eterna AG Uhrenfabrik from Porsche Family
On June 29, 2011, International Volant Limited, Hong Kong, a wholly owned subsidiary of China Haidian, a company listed on the Hong Kong Stock Exchange, acquired Eterna AG Uhrenfabrik, from F.A. Porsche Beteiligungen AG, Salzburg, Austria.
Eterna has a history of almost 160 years in the Swiss watch industry and manufactures its own mechanical movement. Eterna is manufacturing Porsche Design watches under licence.
Lenz & Staehelin advised China Haidian. The team was led by Andreas Rötheli (M&A) and included Marie Berney.