f.l.t.r.: Jürgen Edtbauer, Maria Doralt, Albert Birkner, Claudia Schmidt, Bernhard Kofler-Senoner
CHSH Cerha Hempel Spiegelfeld Hlawati has advised the Chinese WOLONG Group in connection with the successful acquisition of the publicly listed engine manufacturer ATB Austria Antriebstechnik. It is the largest ever transaction involving a Chinese company in Austria.
CHSH Cerha Hempel Spiegelfeld Hlawati advised the Chinese WOLONG Group in connection with the successful acquisition on 19 October 2011 of 97.94% of the shares in ATB Austria Antriebstechnik AG, which is listed on the Vienna Stock Exchange. The cross-border transaction concerned all of ATB’s subsidiaries in a total of seven jurisdictions. The transaction volume was approximately EUR 100 million.
CHSH acted as Transaction Counsel to Wolong with regard to structuring and negotiating the transaction, covering all legal matters under Austrian cartel, stock exchange, insolvency and company law, and also with respect to the takeover offer made by Wolong to all of the shareholders of ATB. The ATB shares were sold by the trustee of the assets of A-TEC Industries AG.
The Wolong Group was founded in 1984. Today, two publicly listed companies belong to the group, Wolong Electric and Wolong Real Estate. The group has over 8000 employees worldwide and 29 subsidiaries. In the People’s Republic of China, Wolong is recognized by the national Industry and Trade Bureau as one of the most well-known brands. Through its acquisition of the ATB Group, Wolong will be in a position to complement its technological capabilities in the area of small and energy-efficient electric engines with the competence and know-how of ATB in the area of large electric motors.
During the transaction, Wolong was advised by the M&A team at Cerha Hempel Spiegelfeld Hlawati led by Partner Dr. Albert Birkner who is Head of the M&A Practice Group. The M&A team also consisted of Dr. Bernhard Kofler-Senoner (Antitrust), Dr. Maria Doralt (M&A), Mag. Jürgen Edtbauer (M&A) and Claudia Schmidt (M&A).