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Recent Transactions

Zhong Lun Advises Ningbo Yunsheng Co. Ltd. on acquisition of 79.13% stake in Nikko Electric Industry Co., Ltd. 2009-12-16

Ningbo Yunsheng Co., Ltd., a listed firm on the Shanghai Stock Exchange (600366), inked a share transfer agreement to acquire a 79.13 percent stake in Japanese auto parts firm Nikko Electric Industry Co., Ltd. on December 14, 2009.

Under the agreement, Ningbo Yunsheng Co., Ltd. will purchase a 79.13% stake in Nikko Electric Industry Co., Ltd. from four companies, including SMBC Principal Investments, and three investment funds operated by well-known US financier Wilbur Ross, namely, Asia Recovery Fund L.P., Asia Recovery Co-Investment Partners L.P. and WLR Recovery Fund L.P., at a total price of RMB92.2 million

Zhong Lun Law Firm partner Wu Peng led a service team, comprising professionals Zhang Cuiping, Li Hairong, Oishi and Fang Wen, to advise Ningbo Yunsheng Co., Ltd. on the purchase.

The deal underscores the increasing move by Chinese companies to make acquisitions overseas to gain technologies and sales channels, according to media reports.

Ningbo Yunsheng Co., Ltd. is principally engaged in the import and export trading industry and manufacturing industry, providing neodymium-iron-boron magnets, music boxes, electric motors, elastic cells and others. Nikko Electric Industry Co., Ltd., founded in 1933, supplies parts for cars and construction machinery and its clients include Isuzu Motors Ltd, Komatsu Ltd and Mitsubishi Heavy Industries Ltd.

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