Friday, August 31, 2012
Paul Hastings LLP, a leading global law firm, announced today that the firm is representing Weichai Power in the purchase of a 25% stake in KION Group, a worldwide leading provider of forklifts, warehouse equipment and other industrial trucks, and in the acquisition of a 70% stake in KION’s hydraulics business, Linde Hydraulics. Weichai Power is a leading automotive and equipment manufacturing group in China.
The transaction, which is expected to close in the 4th quarter of 2012, comprises a total investment volume of € 738 million and is the largest Chinese direct investment in Germany to date.
The Paul Hastings team is led by M&A partners Dr. Christopher Wolff,Dr. Regina Engelstäder, Dr. Ali Sahin, Dr. Jan Gernoth, of counsel Dr. Xiaobing Yang-Benckendorff, Real Estate partner Dr. Jochen Scheel and Capital Markets partner Dr. Karl Balz.
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