GvW Graf von Westphalen Shanghai advises Hamburg-based Körber Group on its acquisition under Chinese law of LTi Group
Hamburg-based technology group Körber AG has acquired a major share in LTi Group from the Lust family. LTi, the automation and sensor technology specialist from Lahnau near Wetzlar, Germany, has approximately 1,000 employees based in 30 locations, including Shanghai. The transaction is still subject to approval by the German cartel office.
GvW Shanghai advised Körber AG on all Chinese law aspects of the transaction and, in particular, carried out a legal due diligence review of LTi’s Chinese subsidiaries. The GvW team was led by Shanghai partner Patrick Heid and associates Li Kong and Joleen Tu (all corporate / M&A).
LTi manufactures components, systems and solutions for automation and sensor technology. LTi’s products are used in the medical and energy technology fields as well as in mechanical engineering. Technology group Körber last year generated a turnover of more than two billion Euro with approximately 9,500 staff worldwide. Sole shareholder is the Körber Foundation.
GvW established its Shanghai office in 2008 and focuses on advising foreign companies on their activities in, and business relationships with, China. The Shanghai team is currently made up of eight lawyers from Germany, China and the USA. In addition, GvW’s China Desk provides comprehensive advice to Chinese investors on their entry into the German and European markets - with a team of fifteen lawyers, eight of whom are native Mandarin speakers.
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