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2012
02-27
Dalian Rubber & Plastics Machinery and Tianjin Machinery Import & Export Corporation Acquire Engineering Company Buzuluk from CGS Group-CIA
February 27, 2012 - Beijing, China - Grandall had successfully acted for Dalian Rubber & Plastics Co., Ltd. ("DXS") and Tianjin Machinery Import & Export Corporation ("TMC") in the co-acquisition of equities at engineering company Buzuluk a.s., a company in Czech Republic.
The disposal of equities by CGS Group in Buzuluk a.s. was successfully completed in Prague, the capital of Czech Republic, on February 8, 2012. The targeted company, being the only position ring supplier in Czech Republic, takes a 1st place and 3rd place in Europe and Global respectively. The products of Buzuluk a.s cover various countries and regions, including EU, Russia, USA, Mexico and Brazil. After the completion of this acquisition, the acquiring parties will make full use of the advanced technology, competitive research strength and significant influence of Buzuluk a.s. for the enhancement of the products competitiveness in domestic and abroad market. This acquisition is the 1st acquisition deal between a Chinese company and Czech company, as such, both the Chinese Ambassador and Counselor to Czech Republic are present at the signing and closing ceremony to signify a new milestone for the two nations.
Grandall Beijing Office has acted as the PRC legal counsel for DXS, and cooperated with DLP Piper (Czech Office) in the transaction. The transaction was led by Ms. Yang Juan (partner), together with Ms. Sun Jie, Mr. R. Alex Clar and Ms. Jin Xuanxuan as the key attorneys involved in the deal. The legal services provided by Grandall includes obtaining approval from domestic competent authorities for Chinese company’s overseas investment, design of foreign investment structure, negotiation, due diligence, draft and modification of transaction agreements.
Click here to find out more: Dalian Rubber & Plastics Machinery Co., Ltd. / Deal Report by Thomson Reuters