Fieldfisher advises GHGT on acquisition of MAN Energy Solutions' gas turbine business

CSIC Longjiang GH Gas Turbine Co, LTD (GHGT) is buying the gas turbine business of MAN Energy Solutions SE. A corresponding purchase agreement was signed by both parties on Monday. Financial details of the transaction were not disclosed. Fieldfisher advised GHGT on the purchase agreement, labour law, antitrust law and public law from its offices in Shanghai, Düsseldorf and Munich.
 
The Chinese CSIC Longjiang GH Gas Turbine Co, LTD. acquires two product centres in Oberhausen and Zurich from MAN Energy Solutions with a total of around 100 employees, including from the areas of research and development, service and sales. The acquisition is an important step for GHGT to position the company, which was founded in 2013, even more globally. GHGT develops, produces and services 5 to 50 megawatt high-performance gas turbines. In future, important new products and technologies in the field of small and medium-sized gas turbines will be developed at the Oberhausen site. For this purpose, GHGT has founded a new German subsidiary (Guanghan Gas Turbine GmbH) based in Oberhausen. Among other things, the focus is on the future technologies of dry low-NOx, hydrogen and ammonia combustion. The Zurich site will continue to service gas turbines already installed and offer related services.

The transaction will be completed as soon as the necessary regulatory approvals have been obtained and other closing conditions have been fulfilled.

GHGT was legally advised for the first time by an international Fieldfisher team led by partners Lian Xing, Jan Hartmann, Dr Andreas Driver, Dr Sascha Dethof, Marcus Kamp and Dennis Hillemann. The experienced team of lawyers with extensive expertise in advising on cross-border transactions assisted the buyer in particular with the contract negotiations, due diligence and regulatory issues.

 

Legal advisor GHGT:

Fieldfisher: Liang Xing (Corporate Partner, Shanghai), Jan Hartmann (Corporate Partner, Düsseldorf), Dr. Andreas Driver (Corporate Partner, Munich), Dennis Hillemann (Public & Regulatory Partner, Hamburg), Leif Herzog (Partner, Düsseldorf), Lena Egbers (Associate, Düsseldorf), Tobias Van Vlodrop (Associate, Düsseldorf, all Corporate), Dr Sascha Dethof (Partner, Düsseldorf), Anita Malec (Counsel, Düsseldorf), Raoul Schätzler (Associate, Düsseldorf), Jean Pascal Slotwinski-Michel (Associate, Düsseldorf, all Antitrust), Marcus Kamp (Partner, Düsseldorf, Labour Law), Tanja Ehls (Senior Associate, Frankfurt), Christine Charlotte Malla (Senior Associate, Hamburg, both Public & Regulatory).