Jurisdiction - China
Shearman & Sterling Advises Sany Heavy Industry Co., Ltd., on Merger with Putzmeister Holding GmbH in Major Chinese-German Transaction.

1 February, 2012


Legal News & Analysis – Asia Pacific – China – Corporate/M&A – Private Equity


Shearman & Sterling is representing Sany Deutschland GmbH, a subsidiary of Shanghai-listed Sany Heavy Industry Co., Ltd., in its acquisition of German mechanical engineering group Putzmeister.  Sany, together with the Chinese private equity company CITIC PE Advisors, Ltd., which will hold a minority participation of 10 percent, acquired all shares in Putzmeister Holding GmbH. Former owners of the Putzmeister Holding GmbH are Karl Schlecht Gemeinnützige Stiftung and Karl Schlecht Familienstiftung.  The acquisition, one of the largest acquisitions by a Chinese investor in Germany, is subject to the approval by the competent supervisory and regulatory authorities. 
Putzmeister develops, produces and sells construction machinery world-wide, especially concrete pumps, for the building- and mining-industry, as well as for tunnel construction and large-scale industrial projects.  With about 3,000 employees, the company has generated approximately 570 million Euro in revenue in the preceding financial year.
Sany is a large Chinese producer of construction machinery and market leader for concrete pumps in China, which is the largest and fastest-growing market for concrete pumps and other industrial equipment world-wide.  
The Shearman & Sterling team includes partners Thomas König (Frankfurt-Mergers & Acquisitions), Andrea Eggenstein (Frankfurt-Mergers & Acquisitions), Martin Neuhaus (Düsseldorf-Mergers & Acquisitions) and Johannes Frey (Munich-Tax).  Other lawyers involved in the transaction include associates Andreas Löhdefink, Alexander Schiel and Peter Breschendorf (all Frankfurt-Mergers & Acquisitions). Partner Lee Edwards (Beijing-Mergers & Acquisitions) and counsel Mathias Stöcker (Brüssels-Antitrust) and Joachim Grittmann (Frankfurt-Regulatory) are also advising on this transaction.
For further information, please contact: 
Winnie Tang, Marketing, Shearman & Sterling


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