Hengeler Mueller advises Shanghai Pudong Development Bank on financing of Ningbo Jifeng's tender offer to the shareholders of Grammer

10. August 2018

The Wang family, controlling shareholder of Ningbo Jifeng, succeeded with its takeover offer to Grammer AG’s shareholders via its German acquisition entity Jiye Auto Parts GmbH. By the end of the initial acceptance period at midnight (CEST) of 6 August 2018, the total stake in Grammer AG was 74.02 per cent – excluding the treasury shares held by Grammer itself 76.01 percent. The reduced acceptance threshold was 36 per cent.

Hengeler Mueller has advised the Shanghai Pudong Development Bank on the financing of the public takeover offer. The Hengeler Mueller team included the partners Hendrik Haag (Banking and Capital Markets Law, Frankfurt) and Changfeng Tu (Corporate/M&A, Shanghai) as well as the associates Rudolf Mehl and Henrik Gildehaus (both Banking and Capital Markets Law, Frankfurt).

On the Chinese side, the Shanghai Pudong Development Bank has been advised by JunHe LLP (Nelson Zhou, Vincent Yifeng Yuan, Wanping Lin, Jianwei Yang and Jason Chen).