Noerr advises Shanghai Electric Group on takeover in the aviation industry

Noerr has advised Shanghai Electric Group on the acquisition of the group Broetje Automation. The Chinese conglomerate is acquiring the group from Deutsche Beteiligungs AG (DBAG), the machinery and plant manufacturing company Dürr as a minority shareholder and other co-investors. The purchase price is approx. €173.5 million Euros.

Broetje group, which is represented worldwide and headquartered in Rastede, is one of the leading strategic suppliers in the aerospace industry. The product portfolio includes the development and production of fastening machines and systems for aircraft manufacture as well as complete solutions for turn-key production stages in aircraft assembly plants.

Listed Shanghai Electric Group (annual turnover 2014: 11.5 billion US dollars, 27,000 employees) is, inter alia, active in the sectors renewable energy, industrial equipment and services. Shanghai Electric maintains cooperations with numerous German companies, such as Siemens, KSB and Manz. Through this strategic acquisition there is significant potential in business synergies in terms of market and technology between Shanghai Electric and Broteje in the area of automated assembly of aircrafts in the aeronautical industry.

For this transaction Shanghai Electric relied on Noerr and a team headed by Dr. Florian Becker, partner in Munich and co-head of Noerr’s Corporate/M&A practice group. With its China Desk, Noerr is one of Europe’s leading law firms for advising on the business activities of Chinese companies and investors. Noerr recently provided advice and assistance to SBS Group on the takeover of Dürr Ecoclean and earlier this year advised Pearl River Piano Group on the takeover of German piano maker Schimmel.

Advisors to Shanghai Electric Group: Noerr LLP

Dr. Florian Becker (lead, Corporate/M&A, Munich), Hui Zhao (Corporate/M&A, Frankfurt), Dr. Kathrin Westermann, Dr. Fabian Badtke (both Antitrust, Berlin), Dr. Christoph Rieken (IP, Munich), Dr. Bärbel Sachs (Regulatory, Berlin), Dr. Wolfgang Schelling (Employment), Martin Ahlhaus (Regulatory), Marco Winterer (Real Estate, all Munich), Stefan Weber (Antitrust, Moscow)

Associates: Yifan Zhu (Corporate, M&A/Frankfurt), Artem Kara (Antitrust, Moscow), Manuela Kirchner (Commercial, Munich), Katharina Luther (Regulatory, Munich), Dr. Daniel Müller, Hans-Christian Mick (both Financing, Frankfurt), Dr. Stephan Vielmeier (Employment), Janina Voogd (IP, both Munich), Dominik Zweigler (Employment, Frankfurt), Sebastian Wrobel (Antitrust, Berlin)