King & Wood Mallesons has advised Nissan Motor Co, Ltd on its 11.71 billion yuan ($1.88 billion) investment agreement with Dongfeng Motor Group, represented by Commerce & Finance Law Offices.
The investment into Dongfeng Motor Co, Ltd (DMC), a 50-50 joint venture between Nissan and Dongfeng established in 2003, focuses on medium-duty and heavy-duty commercial vehicle businesses. The new project includes the restructure and transfer of equity interest, assets, contracts, debt and personnel.
King & Wood Mallesons engaged a team led by partners Xu Ping and Liu Cheng to act for Nissan in all aspects of this transaction including structure design, negotiation and execution of transaction documents during the one-and-a-half-year long process.
“The transaction involves complex assets and business restructuring. The deal structure is complicated which requires transfer of equity interest, assets, contracts and personnel. The King & Wood Mallesons team is honoured to be a part of this deal and to urge the restructuring completion,” sayd Xu in a press release.
DMC is the largest Sino-foreign joint venture in China’s auto industry, with 70,000 employees and 1.36 million vehicles sold in 2012.
Liu Zhen is China senior journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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