Wonder Auto Group invests in e-Mobility business of thyssenkrupp AG
Client
Jinzhou Halla Electrical Equipment Co., Ltd. Wonder Auto Group Limited has become a leading auto parts supplier in China with annual sales of over 600 million Euros and 8000 employees. JHEECO is a leading supplier of automotive starter/generator systems in China. The products of JHEECO include generators, starters, e-motors, electric cooling water pump assemblies etc. The Swiss subsidiary of JHEECO serves as the acquisition entity for this transaction. Through the integration of the acquired assets and domestic resources RHIVA AG was established. It’s aim is to develop, produce and sell powertrain systems for the next generation of new energy vehicles.
Project Outline
· Buyer: The Swiss subsidiary of JHEECO · Seller: thyssenkrupp AG · Target: belonging to the components technology division of thyssenkrupp AG, the Competence Center E-Mobility · Our service: Successful support throughout the whole M&A process as buy-side advisor and co-investor. Services provided include designing the acquisition structure, valuation and offer, coordination of the Due Diligence, participation in the draft of legal documents and final negotiations. · Asset Purchase Agreement signed in December 2019 · Closing on June 30th, 2020
Highlights
· Secured a good negotiation position for the buyer through early communication · The interests of the buyer were secured through effective negotiation tactics · JHEECO quickly expands into new energy electric powertrain business and obtained cutting-edge technology and a professional R&D team
