Home / Press / CMS advises Yongfeng on investment in Swiss automated...

CMS advises Yongfeng on investment in Swiss automated parking specialist Sotefin and on establishment of joint venture in China

31/10/2019

Shanghai – The Chinese Yongfeng Group has acquired a 25 percent stake in Sotefin SA, a Swiss supplier of automated parking systems for vehicles. At the same time, Yongfeng and Sotefin Patents SA have established a joint venture in Qihe, Shandong province, China. Yongfeng holds 75 percent and Sotefin Patents 25 percent of the shares in Sotefin (Shandong) Intelligent Parking Equipment Co., Ltd.

An international CMS team led by Dr Christoph Schröder, Dr Falk Lichtenstein and Dr Stephan Werlen advised Yongfeng on all relevant aspects of the two transactions. These included several license and cooperation agreements. CMS continuously advises Yongfeng on outbound investments.

Yongfeng produces steel and iron ore and operates in the construction and real estate sectors. The group’s business also covers education, municipal services, trade, logistics and financial investment. With approximately 11,000 employees, Yongfeng generated a turnover of over CNY 50 billion (EUR 6.38 billion) in 2018, making it one of China’s top 500 companies. The acquisition of the shares in Sotefin SA is the group’s second overseas acquisition.

Sotefin SA is based in Lugano, Switzerland. The company has been designing and manufacturing automated parking systems for over 50 years.

CMS China

Dr Christoph Schroeder, Partner
Dr Falk Lichtenstein, Partner
Roxie Meng, Associate
Amanda Ge, Associate, all Corporate/M&A
Daisy He, Associate, Intellectual Property
Angela Chen, Junior Associate, Regulatory
Gilbert Shen, Counsel, Tax

CMS Switzerland

Dr Stephan Werlen, Partner
Pascal Stocker, Associate, both Corporate/M&A
Sarah Keller, Associate, Labor, Employment & Pensions
Andrea Zindel, Associate, Commercial Law
Dr Dirk Spacek, Partner
Dr Simone Brauchbar Birkhäuser, Counsel
Elena Gazke, Trademark Paralegal, all Intellectual Property
Mark Cagienard, Partner, Tax Law

Press Contact
[email protected]

Related people

Picture of Christoph Schröder
Dr. Christoph Schröder
Counsel
Hamburg
Lichtenstein
Dr. Falk Lichtenstein
Partner
Beijing
Roxie Meng
Associate
Beijing
Picture of Amanda Ge
Amanda Ge
Senior Associate
Beijing
Angela Chen
Angela Chen
Junior Associate
Shanghai
Gilbert Shen
Gilbert Shen, CPA
Counsel
Shanghai
Dr Stephan Werlen, LL.M.
Partner
Zurich
Picture of Pascal Stocker
Pascal Stocker
Associate
Zurich
Picture of Sarah Keller
Sarah Keller
Associate
Zurich
Andrea Zindel
Dr Dirk Spacek, LL.M.
Partner
Zurich
Dr Simone Brauchbar Birkhäuser, LL.M.
Counsel
Zurich
Photo von Elena Gazke
Elena Gazke
Paralegal, CAS Data Protection Officer
Zurich
Mark Cagienard, LL.M. VAT
Partner
Zurich
Show more Show less