Heuking Kühn Lüer Wojtek, Han Kun Law Firm and Zhonglun Law Firm advised on the deal
As part of the transaction, Haowu Group will initially take a 50% holding in FEUER powertrain. As a next step an increased cooperation on the Chinese market is planned by the parties by forming a local joint venture. Further details of the transaction were not disclosed.
One of the key objectives of the partnership is the acceleration of growth in the entire Asian region by bundling know-how and production capacities. FEUER powertrain will mainly contribute its strong technological know-how and excellent access to European and U.S. premium OEMs, while Haowu Group’s contribution will be its excellent access to the Chinese and other Asian markets and its experience in building and operating efficient production plants in China.
FEUER powertrain Group, headquartered in Nordhausen, Thuringia, is a leading OEM-independent crankshaft manufacturer for automotive and industrial engines and agricultural machinery. FEUER powertrain was founded in 2002 and currently has a combined production capacity of up to 2.5 million crankshafts per year. The company operates production facilities in Germany and the U.S. and an assembly plant in China.
Haowu Group is part of Chinese State-owned TEWOO Group, a Fortune 500 company with annual revenue of about EUR 70 billion. Neijiang Jinhong Crankshaft, one of the leading crankshaft manufacturers in the People’s Republic of China, is also part of the Chinese group.
Heuking Kühn Lüer Wojtek advised FEUER powertrain shareholders with Michael Neises (Lead, Corporate/M&A). Frank Hollstein (Corporate/M&A), Frederik Wiemer (Antitrust), Jörn Matuszewski (Tax) and Sen Gao.
In China, Han Kun Law Firm advised with Ying Zhou and Jiaxin Liu.
Zhonglun Law Firm advised Haowu Group with Vincent Chen (Lead, Corporate/M&A) (Picture)
Involved fees earner: Ying Zhou – Han Kun Law Offices; Jiaxin Liu – Han Kun Law Offices; Vincent Chen – Zhong Lun Law Firm; Michael Neises – Heuking Kühn Lüer Wojtek; Frank Hollstein – Heuking Kühn Lüer Wojtek; Sen Gao – Heuking Kühn Lüer Wojtek; Jörn Matuszewski – Heuking Kühn Lüer Wojtek; Frederik Wiemer – Heuking Kühn Lüer Wojtek;