ZMJ and CRCI’s Acquisition of Bosch’s Starters and Generators Business


Clifford Chance, Hengeler Mueller, Dias Carneiro Advogados, Von Wobeser y Sierra, Schoenherr, Bredin Prat and Dorsey & Whitney have advised on the deal

Zhengzhou Coal Mining Machinery Group (ZMJ) (SSE: 601717, HKEX: 00564), an industrial group that produces auto components and coal mining machinery, and CRCI (China Renaissance Capital Investment), a private equity firm, today announced that relevant parties have entered into a binding agreement to acquire Robert Bosch GmbH’s (Bosch) Starter and Generator business (SG).

The transaction is expected to significantly accelerate SG’s growth in North America and China, the world’s largest automotive market, as well as maintain SG’s leading market position in Europe.

SG has 16 locations in 14 countries, including in Germany, China, Brazil, Hungary, India, Mexico, South Africa, Spain and the United States.

The transaction is subject to closing conditions and customary regulatory approvals.

Established in 1958, Zhengzhou Coal Mining Machinery (Group) Co., Ltd. (ZMJ) is a global leading manufacturer of coal mining machinery and auto components. ZMJ acquired ASIMCO Group in 2016 from Bain Capital. ASIMCO Group focuses on starters and generators, NVH parts and powertrain products. ZMJ is dual-listed on the Shanghai Stock Exchange under the ticker SSE: 601717 and the Hong Kong Stock Exchange under the ticker HKEX: 00564.

CRCI (China Renaissance Capital Investment), founded in 2005, is a private equity firm in Greater China with over US $2 billion of total assets under management. The partners of CRCI are committed to identifying global and local M&A opportunities to bring capital and quality assets together for Chinese companies to grow scale, quality and global reputation. It also finances entrepreneurial growth in China.

Robert Bosch Starter Motors Generators Holding GmbH (SG), a subsidiary of Robert Bosch GmbH, is a global partner of vehicle and engine manufacturers for environmental-friendly and efficient power generation. SG develops starter motors and generators for passenger cars and commercial vehicles, start/stop starter motors for start/stop systems and electric motors for hybrid vehicles. SG employs roughly 7,000 associates across 16 locations in 14 countries.

Clifford Chance has advised the consortium comprising Zhengzhou Coal Mining Machinery (Group) Co., Ltd (ZMJ) and China Renaissance Capital Investment (CRCI) with a team including Dr. Nicole Englisch (Picture), Gwendolyn Antonia Müller, David Schwenneker and Nico Basener (all Corporate, Munich), Stefan Simon, Philipp Schäuble (both Employment, Frankfurt), Claudia Milbradt (Düsseldorf), Alexander Weiss (Munich), Diana Baer (Düsseldorf, all IP), Thorsten Sauerhering and Dominik Engl (both Tax, Frankfurt).

The Hengeler Mueller team is led by partners Bernd Wirbel and Thomas Meurer (both Corporate/M&A) and includes partners Wolfgang Kellenter (IP), Alf-Henrik Bischke (Antitrust), Vera Jungkind (Regulatory) (all Düsseldorf), Matthias Scheifele (Tax, Frankfurt) as well as associates Florian A. Hassner, Jesco Lindner, Benedikt Statz (all Corporate/M&A), Anja Balitzki, Christian Dankerl (both Antitrust), Maximilian T. Wosgien (IP) (all Düsseldorf), Steffen Hörner, Claudia Nees, Yasmin Holm (all Tax, Frankfurt), and Philipp Cramer (Regulatory, Düsseldorf).

In Brazil, Dias Carneiro has advised Robert Bosch GmbH with Eduardo Turkienicz, Antonio Amendola, Andre de Melo Ribeiro, Andrea de Sousa Machado, Ana Luiza Amaro Maillet Cabral Rocha.

In Mexico, Von Wobeser y Sierra has advised Robert Bosch GmbH with Luis Burgueño, Alberto Córdoba and Laura Maldonado.

In Hungary, Schoenherr has advised Robert Bosch GmbH with Kinga Hetényi, Roland Szebényi and Gábor Kordoványi.

In France, Bredin Prat has advised Robert Bosch GmbH with José María Pérez.

In India, Trilegal has advised Robert Bosch GmbH with Rahul Matthan, Nikhil Narendran, Jyotsna Jayaram and Jishnu Sanyal.

In US, Dorsey & Whitney has advised Robert Bosch GmbH with Ted Farris, John Chase, Michael Lindsay, Larry Ward and Cameron Wood.

In China King & Wood Mallesons has advised Robert Bosch on the deal.

In Spain and Portugal, Uria Menendez has advised Robert Bosch on the transaction.

Bowmans advised the German Corportation in South Africa.

Involved fees earner: Eduardo Turkienicz – Dias Carneiro, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos; Andrea de Sousa Machado – Dias Carneiro, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos; Ana Luiza Amaro Maillet Cabral Rocha – Dias Carneiro, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos; Antonio Amendola – Dias Carneiro, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos; Bernd Wirbel – Hengeler Mueller; Thomas Meurer – Hengeler Mueller; Florian Hassner – Hengeler Mueller; Jesco Lindner – Hengeler Mueller; Benedikt Statz – Hengeler Mueller; Wolfgang Kellenter – Hengeler Mueller; Maximilian Wosgien – Hengeler Mueller; Alf-Henrik Bischke – Hengeler Mueller; Anja Balitzki – Hengeler Mueller; Christian Dankerl – Hengeler Mueller; Vera Jungkind – Hengeler Mueller; Philipp Cramer – Hengeler Mueller; Matthias Scheifele – Hengeler Mueller; Steffen Hörner – Hengeler Mueller; Claudia Nees – Hengeler Mueller; Yasmin Holm – Hengeler Mueller; Nicole Englisch – Clifford Chance; Gwendolyn Müller – Clifford Chance; David Schwenneker – Clifford Chance; Nico Basener – Clifford Chance; Stefan Simon – Clifford Chance; Philipp Schäuble – Clifford Chance; Claudia Milbradt – Clifford Chance; Alexander Weiss – Clifford Chance; Diana Baer – Clifford Chance; Thorsten Sauerhering – Clifford Chance; Dominik Engl – Clifford Chance;

Law Firms: Dias Carneiro, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos; Hengeler Mueller; Clifford Chance;

Clients: Robert Bosch GmbH; China Renaissance Capital Investment; Zhengzhou Coal Mining Machinery (Group) Co., Ltd;