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V&T Performance|V&T Helped Shanghai Haichuang Complete Two Foreign-related Acquisition projects, with the Total Transaction Amount Exceeding RMB 500 Million

Recently, V&T Law Firm, as legal advisor, assisted Shanghai Haichuang Longteng Enterprise Consulting Center (Limited Partnership) ("Shanghai Haichuang") to complete two foreign-related acquisition projects, with the total transaction amount exceeding RMB 500 million.

On September 13, 2021, Shanghai Haichuang and Germany Winkelmann Group ("Winkelmann Group") agreed to sign a transfer agreement for the acquisition of 70% equity interest in Shanghai Winkelmann Longchuan SWL Motorcomponents Co., Ltd. (Now renamed as “SoWa Intelligent Manufacturing (Shanghai) Technology Co., Ltd.”, hereinafter referred to as “SoWa Intelligent Manufacturing”). The final settlement of the project was completed in December 2021.

On August 8, 2022, SoWa Precision Technologies (Nanjing) Limited, a wholly-owned subsidiary of SoWa Intelligent Manufacturing, signed a transfer agreement with Germany Winkelmann Group and AiBeCe International Limited in consensus for the acquisition transaction of 100% equity interest in Winkelmann Powertrain Components (Langfang) Co., Ltd. (Now renamed "SoWa Precision Technologies (Langfang) Limited"). The payment of the consideration was completed on September 30, 2022.

Shanghai Haichuang is a special purpose vehicle held by Nanjing Haichuang Longteng Venture Capital Partnership (Limited Partnership), which was established with the support of Nanjing Lishui District People's Government.

SoWa Intelligent Manufacturing is a manufacturer of fuel distribution systems including fuel rails and fuel lines. The company is one of the most innovative manufacturers in this field and one of the leading suppliers in the world, ranking first in the world in the production of several fuel rail products, with customers covering Shanghai GM, Shanghai VW, FAW-VW, Changan Ford, DPCA, Mazda, UAES, DELPHI, CONTI and other well-known automotive companies. SoWa Precision Technologies (Langfang) Limited is a professional manufacturer of belt pulley shock absorbers under SoWa Intelligent Manufacturing.

In the above two foreign-related acquisition projects, V&T acted as the legal advisor of the acquirer, conducted comprehensive legal due diligence on the subject enterprise, and deeply participated in the whole process of consultation, negotiation and acquisition.

The above projects were sponsored by lawyer Rong Yunlin, a partner of V&T, and co-organized by lawyer Zhang Yutao and lawyer Chen Yang, the assistant lawyers.

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