BDO advises Zhejiang Tieliu Clutch Co., Ltd. on the conclusion of an agreement for the acquisition of Geiger Fertigungstechnologie GmbH

May 201824

Chinese Zhejiang Tieliu Clutch Co., Ltd. (Hangzhou/Peoples Republic of China) has concluded an agreement for the acquisition of all shares in Geiger Fertigungstechnologie GmbH (Pretzfeld/Germany). The shares have been sold by GM Tec Industries Hol-ding GmbH, a 100% subsidiary of KAP Beteiligungs-AG, DAUN & Cie Aktiengesellschaft and ATLAS Textil Verwaltungs GmbH. The transaction is still subject to regulatory approvals in Germany and China.

A mutli-disciplinary team of BDO AG Wirtschaftsprüfungsgesellschaft, BDO China Shu Lun Pan Certified Public Accountants LLP and BDO Legal Rechtsanwaltsgesellschaft mbH jointly led by Dr Steffen Eube (BDO AG, Frankfurt/Main), Decai Zhang (BDO China, Guangzhou) and Thorsten Schumacher (BDO Legal, Düsseldorf) has advised Chinese Zhejiang Tieliu Clutch Co., Ltd. on the conclusion of an agreement regarding the acquisition of all shares in Geiger Fertigungstechnologie GmbH. The shares will be acquired by a 100% indirect subsidiary of Zhejiang Tieliu Clutch Co., Ltd.

The shares have been sold by GM Tec Industries Holding GmbH, a 100% subsidiary of KAP Beteiligungs-AG, DAUN & Cie Aktiengesellschaft and ATLAS Textil Verwaltungs GmbH. Closing of the transaction, which is expected to take place in the second or third quarter of 2018, is still subject to regulatory approvals in Germany and China.

Founded in 1960, Geiger Fertigungstechnologie GmbH had been part of KAP Beteiligungs AG since 2008. The company has long-standing experience in the manufacturing of highly complex and sophisticated lathing and milling parts, including all additional and associated work processes and is a recognised partner and preferred supplier for the most important companies of the metal processing and automotive supply industry.

Founded in 2009 and listed on the Shanghai Stock Exchange, Zhejiang Tieliu Clutch Co., Ltd is a leading company in the Chinese automotive clutch industry. The company’s main products include the dry friction automobile clutch series, such as the clutch covers, the clutch driven plate assembly and the clutch system modules. The company mainly distributes its products in China and overseas markets, including the United States, South America, South Africa, Japan, Southeast Asia, Eastern Europe and the Middle East.

Advisors to Zhejiang Tieliu Clutch Co., Ltd:

BDO AG Wirtschaftsprüfungsgesellschaft:
Dr Steffen Eube (Lead), Maya Tsenkova, Chun Zang (all Corporate Finance), Dr Henrik Meyer (Tax; all Frankfurt/Main).

BDO China Shu Lun Pan Certified Public Accountants LLP:
Decai Zhang (M&A, Guangzhou/China)

BDO Legal Rechtsanwaltsgesellschaft mbH:
Thorsten Schumacher (Lead), Dr Daniel Wied, Dr Patricia Sirchich von Kis-Sira (all Corporate/M&A; Düsseldorf/Munich), Julia Dönch, Anna-Kerstin Krüger, Stephan Wetzel (all IP/IT, Commercial), Dr Franziska Hügel-Spohnheimer, Danny Sassek (both Employment Law), Dr Andreas Graef (Public Law), Julian Lappe (Finance; all Düsseldorf), Dr Martin Krüger (Real Estate; Hamburg), Horst Henschen and Xaver Hausner (Foreign Trade Law, Frankfurt am Main/Cologne).