Paris, 11th February 2019 – Acting with the Chinese law firm Haiwen & Partners, Jeantet advised the Chinese listed company Zhejiang Hailiang Co., Ltd. on the acquisition of the brass rods business in Germany and Italy and the tubes businesses in Germany and Spain from KME AG, a fully controlled subsidiary of Italian Intek Group S.p.A..
Hailiang has also made a binding offer for the acquisition of 100% of the shares of the French subsidiary KME Brass France SAS and granted KME a put option in this respect. KME is going to start the information and consultation procedure with the relevant employee representatives in France immediately following receipt of this offer.
The overall transaction perimeter employs a total of around 1,100 workers and has recorded a turnover of around EUR 540 million in 2017.
The closing of the transaction is expected to occur during the first quarter 2019.
Jeantet assisted Zhejiang Hailiang Co., Ltd. on the French aspects of the transaction with Karl Hepp de Sevelinges, partner, Ingrid Fauvelière, counsel, Nicolas Martin, associate (M&A), Deborah David, partner (employment law), Sarah Beau, counsel (public law), Laure Asdrubal, associate (real estate) and Frédéric Sardain, partner (IP, Tech & Data), together with the Chinese law firm Haiwen & Partners.
KME has been advised by Linklaters.