近日，中国铁路物资集团有限公司（中国铁物）在深交所成功挂牌上市，成为2021年首家上市的央企。天元律师事务所作为发行人律师提供法律意见。

本次交易为涉及两大央企集团——中国铁物和中国第一汽车集团有限公司（中国一汽）的百亿级重大资产重组，是国有资产的结构性调整。铁物集团自2019年积极推进核心优质资产上市工作，启动债转股平台公司中铁物晟与一汽夏利实施重大资产重组，重组方案主要包括一汽股份无偿划转持有的一汽夏利股份、重大资产出售、发行股份购买资产以及募集配套资金四个部分，置入资产交易作价合计121.29亿元。通过本次交易上市公司原有资产及业务将置出，置入中国铁物核心优质资产，控股股东由一汽股份变更为铁物股份，实际控制人仍为国务院国资委。

天元团队由合伙人刘艳牵头领导。

Tian Yuan advises CRM on restructuring and Shenzhen IPO

China Railway Materials Group Corporation (CRM) has launched its initial public offering (IPO) on Shenzhen Stock Exchange, becoming the first central enterprise that become listed in 2021. Tian Yuan acted as the issuer’s lawyer. 

This is a deal involving a tens of billions RMB of asset restructuring between two large central enterprises: CRM and China FAW Group Corporation (FAW). The restructuring mainly includes FAW transferring its shares of FAW Xiali, major assets sale, purchase of assets by issuing shares, and raising counterpart funds. The total value of the transaction of the placed assets was $1.8 billion (12.1 billion RMB). After the transaction, the controlling shareholder of Xiali became CRM, but the actual controller remains State-owned Assets Supervision and Administration Commission of the State Council.

The Tian Yuan team was led by partner Liu Yan. 

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