Davis Polk is advising Cargotec Corporation in connection with the investment by its wholly owned subsidiary, Cargotec Holding Netherlands B.V., (Cargotec) in China Crane Investment Holdings Limited (China Crane). China Crane is indirectly wholly owned by Carlyle Asia Growth Partners IV, L.P., an investment fund managed by global private equity firm The Carlyle Group. China Crane has a minority shareholding (18.75%) in Jiangsu Rainbow Heavy Industries Co., Ltd. (RHI), a joint-stock limited company incorporated in the People’s Republic of China. RHI’s shares are listed on the Shenzhen Stock Exchange. Cargotec is acquiring 49% stake in China Crane from Carlyle Asia Growth Partners IV, L.P. for approximately €50 million. The transaction is subject to customary closing conditions.

Cargotec Corporation is a Finnish company and is the world’s leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals and local distribution. Cargotec’s daughter brands include Hiab, Kalmar and MacGregor, all of which are recognized as leaders in the cargo and load handling solutions industries. Cargotec’s sales totaled €2.6 billion in 2010 and the company employs approximately 11,000 people. 

The Davis Polk corporate team includes partner Paul Chow, registered foreign lawyer Amit Kataria and summer associates Rachel Chen and Amy Fok. Jenah Pei Jiang and Edward Kang are the legal assistants on the transaction. All members of the Davis Polk team are based in the Hong Kong office.