Two S&C matters were recognized as “Deals of the Year” in the General Corporate Matters and M&A categories by China Business Law Journal. This year’s winning deals redefine the essence of professionalism, showcasing how legal expertise can create opportunities.
- General Corporate Matter Deals of the Year: S&C client China Oriental’s two joint venture agreements with ArcelorMittal S.A., pursuant to which China Oriental and ArcelorMittal conditionally agreed to form two 50/50 joint ventures in the PRC. The joint ventures will be principally engaged in the production and sales of electrical steel grade hot-rolled coil substrates and cold-rolled non-oriented or oriented electrical steel, which has been a key material for the automotive industry, in particular in the high-power model of electric vehicles. The joint ventures are expected to participate in the development, investment, construction and operation of photovoltaic and wind power projects in the PRC. The S&C team was led by Kay Ian Ng and consisted of Rosana Tse and Jeffrey Lee.
- M&A Deals of the Year: S&C client Bosch’s pending acquisition of the global heating, ventilation and air conditioning (HVAC) solutions business for residential and light commercial buildings from Johnson Controls, including 100 percent of the Johnson Controls-Hitachi Air Conditioning joint venture, which also encompasses Hitachi’s 40 percent stake, for approximately $8 billion. This is the biggest transaction in Bosch’s history. The team advising Bosch on all Corporate, Tax, Intellectual Property, Executive Compensation, Environmental and Antitrust aspects is led by Carsten Berrar, Scott Crofton, Frank Aquila and Konstantin Technau and includes on the M&A side Stephan Rauch, Mitchell Friedman, Elizabeth Levin and Frederic Dreher.