Baker McKenzie advised Evergrande Health Industry Group Limited ("Evergrande Health"), a company listed on the Main Board of the Hong Kong Stock Exchange, on the establishment of a joint venture with hofer Aktiengesellschaft (‘‘hofer AG"). The joint venture will be devoted to developing world-leading integrated electric axles for Evergrande, and establishing advanced research and development in Germany with a production base in China.

hofer powertrain, a world leader in the development and application of new energy vehicle electric drive systems, is widely recognized for its leading capability to design, develop and manufacture integrated electric drive units. It owns 15 research facilities in countries such as Germany, the United States, the United Kingdom, Italy, and Austria as well as four production bases with partners around the world, and has a team of over 800 scientific experts and professional engineers.

Baker McKenzie fielded a cross-practice team led by Corporate Partners Dr. Andreas Lohner and Dr. Jon Marcus Meese and Senior Associate Dr. Robin Haas in Munich. They were supported by IP Partner Dr. Michael Fammler and Senior Associate Dr. Markus Hecht in Frankfurt advising on the IP aspects of the deal; Corporate Partners Lawrence Lee and Christina Lee, Special Counsel Brian Wong, and Stephanie Mak in Hong Kong advising on deal structuring and Hong Kong Listing Rules matters; Special Counsel Scott Silverman in Beijing and Counsel Chunyuan Dou from FenXun Partners advising on the China aspects of the deal.

The deal follows a series of other signification transactions in which Baker McKenzie also acted for Evergrande Health in the last eight months. These acquisitions include: a 51% stake in National Electric Vehicle Sweden AB, a global electric vehicle company based in Sweden focusing on intelligent automobiles; and a majority stake in Shanghai CENAT New Energy, a leading automobile battery company that specializes in ternary pouch type power battery.

Commenting on the deal, Christina Lee and Andreas Lohner said: “We are delighted to be able to bring our global seamless services to our key client to successfully complete these series of cross-border transactions. We are privileged to take part in this strategic development of China Evergrande Group to become the leader in the electric vehicle market and we look forward to continuing this partnership with China Evergrande Group."

China Evergrande Group is a company listed on the Hong Kong Stock Exchange and the parent company of Evergrande Health. China Evergrande Group is a Fortune Global 500 company.

Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in Hong Kong and other major financial centres. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insight on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades.

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