Frankfurt/Main – Chinese infrastructure group China Railway Construction Corporation (CRCC) of Beijing is entering the German market by acquiring CIDEON Engineering and CIDEON Switzerland. The competition authorities have approved the transaction; the purchase price was not disclosed.
A team from CMS Germany with additional support from CMS Switzerland and headed by lead partner and M&A expert Dr Oliver Wolfgramm advised CRCC on all aspects of the deal.
CRCC is a subsidiary of China Railway Construction Corporation Group (CRCCG), which in turn is an indirect subsidiary of the country’s State-owned Assets Supervision and Administration Commission of the State Council. The company specialises in realising infrastructure projects. CRCC’s main fields of business also include the supervision, control and organisation of such projects, as well as the manufacture of large-scale machines for maintaining road and rail infrastructure.
The acquisition of CIDEON Engineering and CIDEON Switzerland is CRCC’s first transaction in Europe. In the 2014 financial year, CRCC generated total worldwide consolidated sales of around EUR 72 billion. It is ranked No. 79 in the Fortune Global 500 and No. 6 in China's Top 500 Enterprises. CRCC is listed on the Shanghai and Hong Kong stock exchanges.
CIDEON Engineering is a world-leading engineering service provider in the rail vehicles segment for complete development projects, project management and outsourcing through to inspection, certification and support for the introduction of series production. The firm has facilities in Germany and Switzerland.
CMS Germany
Dr Oliver Wolfgramm, Lead Partner
Dirk Baukholt, Overall Coordination
Dr Christoph Schröder, Coordination in China
Ning Zhang, all Corporate/M&A
Dr Tobias Polloczek
Deniz Nikolaus, both Employment
Dr Gerald Gräfe, Commercial
Dr Dirk Smielick, Intellectual Property
Michael Kamps
Dr Karin Schmidtmann, both Technology
Dr Rolf Hempel
Martin Cholewa, both Competition
Marcus Fischer, Tax
CMS Switzerland
Dr Patrick Sommer
Daniel Burkhard, both Corporate/M&A
Press Contact
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