Dacheng senior partner Shi Wanlin, who is also director of the France office, recently acted for Agricultural Bank of China Ningbo branch in a transaction where Ningbo Joyson Investment Holding Co., Ltd. acquired German-based Preh. Shi’s participation effectively contributed to the success of the transaction.
Preh is an auto parts supplier located in Bavaria, German, which mainly produces interior control systems and sensor systems for automobiles. It has 2500 employees and has by now generated 351mln euros of sales revenue. As the world’s leading high-end auto electronic control panel and template supplier, its clients include all high-end auto manufacturers. For example, the patents of the driver control systems of BMW and Audi, iDrive and MMI respectively, are exclusively held by Preh.
The acquisition in question will cost Jonson approximately RMB1bn, making it the largest investment ever made in Germany by a Chinese auto parts company. It also marks another high-profile overseas M&A transaction in China’s auto parts manufacturing industry, following BWI Group, Geely Group and Wanxiang Group.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
