Luther and French Partner Fidal advised ActBlue on the deal.
The China-listed Anhui ActBlue Co., Ltd., market leader in exhaust after-treatment systems, announced the acquisition of the business unit “Selective Catalytic Reduction Systems” (SCR) / Commercial Vehicles of the Continental subsidiary Vitesco Technologies.
The transaction included the acquisition of all the shares in Vitesco Technologies Faulquemont S.A.S. and of further assets of the Vitesco Technologies Group. The transaction further included the acquisition of assets such as production facilities and patents and the conclusion of long-term licence and supply agreements.
Through the acquisition, ActBlue will get direct access to the European and US markets for exhaust after-treatment systems and, at the same time, optimise its own R&D capacities with the aim of accelerating its growth in China following the introduction of the Chinese emission standard CN-VI on 1 July 2021. The former “Continental Powertrain Division” Vitesco Technologies is about to be spun off from Continental and, according to press reports, is to be floated on the stock exchange.
The closing of the transaction is still subject to the approval of the competent authorities in China.
ActBlue (Anhui ActBlue Co., Ltd. 8364) was founded in January 2009 by a team of PhD students from North America and specialises in the development and production of exhaust after-treatment systems for diesel, petrol and natural gas engines. ActBlue has been listed on the Shenzhen Stock Exchange since February 2020 and today has a market capitalisation of almost EUR 1 billion. ActBlue is the only listed company in China that specialises in the development and production of exhaust after-treatment systems.
The Luther team included Thomas Weidlich, LL.M. (Picture – Lead Partner and Head of Luther’s China Desk), Philipp Dietz, LL.M. (Partner), Dr Yuan Shen (Senior Associate), Falco Rohrberg, LL.M. (Associate), Dr Markus Sengpiel (Managing Partner), Dr Jennifer Velz (Associate), Volker Steimle (Partner), Svenja Trömpert (Associate), Philip Lazare and Ni Ningjun (both Partners, Corporate/M&A).
The Fidal team included Anne Fréchette-Kerbrat (Partner), Christine d’Ovidio (Senior Associate), Berengere Tosani (Associate), Yanis Aldin (Associate), Lorraine Raimbert-Nusse (Partner), Anne-Laure Braquehaye (Associate) and Alexandre Lacresse (Counsel).
Involved fees earner: Yanis Aldin – Fidal; Anne-Laure Braquehaye – Fidal; Christine d’Ovidio – Fidal; Anne Fréchette-Kerbrat – Fidal; Alexandre Lacresse – Fidal; Lorraine Raimbert-Nusse – Fidal; Berengere Tosani – Fidal; Philipp Dietz – Luther Rechtsanwaltsgesellschaft mbH; Philip Lazare – Luther Rechtsanwaltsgesellschaft mbH; NI Ningjun – Luther Rechtsanwaltsgesellschaft mbH; Falco Rohrberg – Luther Rechtsanwaltsgesellschaft mbH; Markus Sengpiel – Luther Rechtsanwaltsgesellschaft mbH; Yuan Shen – Luther Rechtsanwaltsgesellschaft mbH; Volker Steimle – Luther Rechtsanwaltsgesellschaft mbH; Svenja Trömpert – Luther Rechtsanwaltsgesellschaft mbH; Jennifer Velz – Luther Rechtsanwaltsgesellschaft mbH; Thomas Weidlich – Luther Rechtsanwaltsgesellschaft mbH;
Clients: ActBlue Co Ltd;