Clifford Chance has advised Zhengzhou Coal Mining Machinery Group (ZMJ) and private equity firm China Renaissance Capital Investment (CRCI) on their acquisition of SG Holding, Robert Bosch's starters and generators business, for 545 million euros ($595 million).

German law firm Hengeler Mueller represented Bosch, a multinational engineering and electronics company and controller of SG Group. The deal is expected to help SG extend its reach in China, the world's biggest automotive market.

ZMJ, a maker of auto parts and machinery for coal mining, estimated that around 440 million euros will be funded through the buyers’ internal resources while the remainder would come from external bank financing, reported Reuters.

The CC team was led by partners Glen Ma in Shanghai and Nicole Englisch in Munich, with support from the firm’s Greater China team, which includes partner Tim Wang.