Mayer Brown JSM Advises ICBC (Asia) on First Public Takeover in Germany by a Chinese State Owned Enterprise

Mayer Brown JSM today announced that it has advised Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) in relation to its financing of three bidders in making a joint public takeover offer – together with an indirect subsidiary of Aviation Industry Corporation of China, Beijing, China (AVIC), a PRC stated-owned company – for the shares of Frankfurt listed KHD Humboldt Wedag International AG, a German industrial-plant builder. The three separate term loan facilities have a total aggregate amount of EUR197.8 million.

This is the first public takeover by a Chinese state owned enterprise in Germany.

“The deal was technically complex because for the first time the process of a public takeover under German law has been executed involving a Chinese state owned bidder,” said Hong Kong-based Finance partner Francis Chen, who led the transaction.

Francis was assisted by associates Veronica Ng, Andy Lau, Jennifer Ng, Alex Cheung and trainees Angie Chan and Alfred Yeung in Hong Kong, who also worked with Mayer Brown partners Dr. Ulrike Binder, Dirk-Peter Flor and associates Marc Bäumer and Sören Pruß in Frankfurt.

www.mayerbrown.com


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