CIMC-TianDa’s $88 Million Acquisition of a Controlling Interest in Shenyang Jietong Fire Truck

Paul Hastings advised CIMC-TianDa Holdings Company Limited (“CIMC-TianDa”) (a subsidiary of China International Marine Containers (Group) Co., Ltd.) on the proposed acquisition, through its subsidiary Allied Best (China) Fire Safety Appliances Manufacturing Co., Ltd., of 60 per cent of the equity interests in Shenyang Jietong Fire Truck Co., Ltd. (“Shenyang Jietong Fire Truck”) at a consideration of RMB600 million (approximately US$88 million).

CIMC-TianDa is one of the leading manufacturers of fire engines, fire prevention and fighting equipment in the PRC. The principal business of Shenyang Jietong Fire Truck is the production of fire engines and aerial lifting fire trucks in the PRC, which complements CIMC-TianDa’s existing lines of business.

The Paul Hastings team was led by Raymond Li (Picture), partner and Chair of Greater China, with support from of counsel Bonnie Kong, and associates Andy Tam and Terence Siu.

Involved fees earner: Raymond Li – Paul Hastings; Bonnie Kong – Paul Hastings; Andy Tam – Paul Hastings; Terence Siu – Paul Hastings;

Law Firms: Paul Hastings;

Clients: CIMC-TianDa Holdings Company Limited;

Author: Michael Patrini