Paul, Weiss, Rifkind, Wharton & Garrison and Baker McKenzie have the lead roles on a $2.1 billion retail deal in China.

Beijing-based Wumei Technology Group, which operates the Wumart supermarket chain in China, is acquiring German wholesaler Metro AG’s 23-year-old Chinese operations, Metro China, at an enterprise value of $2.1 billion. The German company will also receive a 20% stake in the newly created joint venture between Metro China and Wumei. The transaction is expected to be completed by the second quarter of next year, following Chinese government and regulatory approvals.