Shanghai – Machinery company Trumpf has acquired 72% of leading Chinese machine tool maker Jiangsu Jinfangyuan (JFY). This investment is the largest in the company's history and is designed to strengthen Trumpf’s position in the Chinese market. The purchase price was not disclosed.
A team led by the managing partner of CMS, China's Shanghai office, Dr. Ulrike Glueck, advised Trumpf on all aspects of the transaction from the start, working together closely with Peter Bokelmann, General Counsel at Trumpf. CMS, China has been advising Trumpf in China already for several years.
Dr. Ulrike Glueck said: “We are very proud to have advised on this landmark transaction. It showcases our competitiveness in advising on cross-border transactions and our leadership both relating to industry sector groups such as machinery and other TMT sectors, as well as practice area groups such as corporate, competition and tax”.
According to information provided by the family-owned company, Trumpf generated sales of around EUR 2.34 billion in the most recent accounting period. It has almost 10,000 employees. Sales in China amounted to around EUR 180 million in the last financial year. JFY generated sales of around EUR 67 million in the past year with 680 employees.
Advisers CMS, China
Dr Ulrike Glueck, Lead Partner, Corporate/M&A
Colin Liu, Partner, Competition and IP
Ada Tong, Senior Associate, Corporate/M&A
Jeanette Yu, Senior Associate, Employment
Gloria Yu, Associate, Corporate/M&A
Chesy Chen, Associate, IP
Jie Lin, Associate, Competition
Charlie Sun, Senior Associate, Tax
For more information, please contact Sam Xu ([email protected])