Tuesday, September 04, 2012
International law firm Simmons & Simmons has advised Shenyang Jinbei Vehicle Manufacturing Co., Ltd. on an acquisition creating a joint venture in Russia.
Jinbei, the light commercial vehicle subsidiary of Brilliance Auto Group, aims to manufacture and sell vehicles in Russia through a joint venture with its Russian partner.
The total investment of the project is US$25.25 million. Through a Hong Kong holding company, Jinbei holds 60% of the shares of the joint venture that will manufacture Jinbei-brand light-duty trucks in Ulyanovsk, Russia. The remaining 40% of the shares of the joint venture is held by Jinbei's Russian partner. The transaction was completed on 28 August 2012.
The Simmons & Simmons team was led by Beijing partner Eric Lin and assisted by Chloe Xu, Geoffrey Mullen and Sarah Ho.
Commenting on the transaction, Eric Lin said: "We are delighted to have assisted Jinbei with this strategic investment to support its ongoing international expansion."
Shenyang Jinbei Vehicle Manufacturing Co. Ltd is one of the major Chinese manufacturers of trucks with registered capital of RMB400 million Yuan and 2,200 employees.
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