The Wang family, which controls the internationally active Chinese automotive supplier Ningbo Jifeng Auto Parts Co., has announced its intention to acquire the Amberg-based automotive supplier Grammer AG. A family holding company will make a voluntary public takeover offer for all Grammer shares. The takeover is to be handled by the acquisition entity Jiye Auto Parts GmbH.
A successful offer will enable a closer cooperation between Grammer AG and Ningbo Jifeng. The two companies have an established relationship, for over ten years. In 2017, the family acquired over 25% of Grammer AG and thus became the largest shareholder and anchor investor.
A Herbert Smith Freehills team led by partners Dr. Markus Lauer and Dr. Ralf Thaeter advises the Wang Family on the transaction. A team led by Morgan JIANG (Shanghai) from King & Wood Mallesons advises on Chinese law.