12.01.2018

China Practise: Luther assists Baosteel with acquiring automotive supplier Tailored Blanks

Following the takeover of Wuhan Iron and Steel Group (WISCO) in 2016/17, Chinese steel producer Baosteel has now integrated the Tailored Blanks Group by way of acquisition. Luther lawfirm assisted Baosteel.

Background

Following the takeover of Wuhan Iron and Steel Group (WISCO) in 2016/17, Chinese steel producer Baosteel has now integrated the Tailored Blanks Group by way of acquisition. Luther lawfirm assisted Baosteel.

The Tailored Blanks Group is a specialist automotive supplier, producing tailor welded blanks for OEMs and tier-one suppliers. Originally it formed part of ThyssenKrupp Steel Europe (TKSE). In 2012 it was acquired by Wuhan Iron and Steel Group (WISCO); the deal was closed in July 2013.

Baosteel and WISCO were merged into Baowu Group in 2016/17, making it the second largest steel producer of the world. Following the merger, Baosteel has now also taken over WISCO’s Tailored Blanks business, with a view to integrate it into its own operations.

Luther, which also has an office in Shanghai, has a dedicated China practise, amongst others in Düsseldorf and Cologne, with a special focus on Chinese outbound investments. Luther regularly advises Chinese corporates (such as Baosteel, WISCO, Kingenta, Weihua, Hisense, ZTE and others) on their German legal questions.

For Baosteel

Luther, M&A/Corporate: <link https: www.luther-lawfirm.com en people adviser dr-michael-kroemker-mba-mannheimtongji.html external-link-new-window michael>Dr. Michael Krömker, MBA (Lead Partner); <link https: www.luther-lawfirm.com en people adviser xi-xie-llm-university-of-virginia.html external-link-new-window>Xi Xie, LL.M., <link https: www.luther-lawfirm.com en people adviser kamil-flak.html external-link-new-window>Kamil Flak (all Dusseldorf); <link https: www.luther-lawfirm.com en people adviser dr-yuan-shen-llm-koeln.html external-link-new-window yuan>Dr. Yuan Shen, LL.M. (Cologne)