Clifford Chance advises Shuanghuan on latest acquisition

Clifford Chance has advised China-based auto component producer Zhejiang Shuanghuan Driveline Machinery Co., Ltd (Shuanghuan) on the acquisition of a majority share in German gearbox and auto component manufacturer Schmiedetechnik Plettenberg GmbH & Co. KG and Werkzeugtechnik Plettenberg GmbH & Co. KG. German VVP Vermögensverwaltung Plettenberg GmbH & Co. KG is selling its 81 percent of its shares in both companies. Upon closing of the transaction the Chinese investor will inject further capital into the group and thereby increase its shareholding.

Schmiedetechnik Plettenberg and Werkzeugtechnik Plettenberg are engaged in R&D, manufacturing, and sale of metal mold and precision molding parts for the automotive and construction machinery sectors.

Zhejiang Shuanghuan Driveline Co., Ltd., a listed company based in Hangzhou, China, produces and sells gears and shafts. The company’s products are widely used in the fields of inter alia cars, electric cars, high-speed rail traffic, electric tools and industrial robots. By acquiring the German gear manufacturers, Shuanghuan is accelerating its international development and further expanding its European business.

The Clifford Chance team advising Shuanghuan on the acquisition comprised partner Nicole Englisch and associate Sebastian Lahner, senior associate Nico Basener, associate Annika Ascher (all Corporate/M&A, Munich), counsel Dimitri Slobodenjuk and senior associate Caroline Scholke (both Antitrust, Dusseldorf), partner Claudia Milbradt, counsel Florian Reiling and senior associate Nicolas Hohn-Hein (all IP, Düsseldorf), partner Ines Keitel, senior associate Christopher Fischer (both Frankfurt) and associate Mario Maier (Munich, all Employment), partner Mathias Elspaß, senior associate Philipp Büsch and associate Felix Feldmann (all Corporate/Public Law, Düsseldorf), partner Christian Keilich (Frankfurt), counsel Dennis Blechinger and foreign lawyer Marion Dalvai (both Munich, all Real Estate), partner Barbara Mayer-Trautmann and senior associate Jennifer Seipelt (both Acquisition Finance, Munich) and partner Olaf Mertgen and counsel Dominik Engl (both Tax, Frankfurt) as well as a team from the Clifford Chance office in Shanghai lead by partner Glen Ma and including counsel Richard Cui (both Corporate/M&A).

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