GvW Graf von Westphalen Advises Global Top-100 Automotive Supplier Webasto on Divestiture in China
Webasto, a leading supplier to the automotive industry headquartered in Stockdorf, Germany, has sold a former production site in Beijing to a domestic Chinese purchaser. Previously, Webasto had manufactured automotive roofs, related components and electronic systems on the site. Webasto continues to maintain significant production and sales operations in China, with the divestiture allowing it to optimize its production footprint and to strengthen its manufacturing synergies in the country.
A team in the Shanghai office of GvW Graf von Westphalen advised the Webasto Group comprehensively on all legal and strategic aspects of the transaction, including on the drafting of the transaction documentation. The transaction team was led by GvW-partners Patrick Heid and Dr Dominic Köstner and included associates Chen Li, Yingci Geng and Huanlei Yan. At Webasto, the inhouse legal team working on the transaction was composed of the General Counsel of Webasto China & APAC, Ray Li and Legal Counsel Tianjiao Liu.
With sales of more than 4 billion euros, Webasto is one of the top 100 automotive suppliers worldwide. The family-owned business based in Germany is a globally active group of companies with over 50 locations worldwide, and has been active in China since 2001. Since then, the PRC has developed into one of its largest markets where Webasto operates several production facilities, mainly for the manufacturing of premium roof solutions and electric heating systems for the automotive industry.
GvW Graf von Westphalen established its own office in Shanghai in 2008 and regularly advises German, European and U.S. companies on their market entry, expansion or exit, M&A transactions, local and cross-border business relationships, and the regulatory environment in China. GvW’s China practice currently counts twelve attorneys in its offices in Shanghai, Hamburg, Frankfurt and Munich who are admitted to the bar in Germany, China, and/or various U.S. States.
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