HHP Represents Huaxiang for acquisition of Nissan Battery
Ningbo Huaxiang Electronic Co., Ltd. (“Ningbo Huaxiang”) recently entered into a memorandum in Shanghai with GSR Capital Advisors and Beijing GSR Capital to make use of Nissan battery technologies for expanded production in China. HHP Attorneys-At-Law represented Ningbo Huaxiang for this proposed acquisition.
Ningbo Huaxiang is a domestic leading company in producing auto parts, listed in Shenzhen Stock Exchange, serving many top car manufacturer including Shanghai Volkswagen, SAIC Motor, FAW Volkswagen, Shanghai GM, Tianjin FAW TOYOTA. In this proposed project, Ningbo Huaxiang plans to participate the Nissan battery project by injecting funds of RMB100 million to obtain 30% shares of the joint-venture company proposed to be established by GSR Capital Advisors and Beijing GSR Capital, and subscribe not more than USD100 million for the buyout fund set up by GSR Capital Advisors to purchase Nissan Battery.
HHP advised Ningbo Huaxiang on the review of transaction documents, design of transaction structure and legal risk assessment, and represented the client for deal negotiation. HHP team for this case comprises partner Yao RAO, associates Huayu LU, Shuaijie LU, and paralegal Ye CHEN, Weida CHEN.