Recently, the Ministry of Commerce decided not to make further investigation into the acquisition by Dongfang Electric Co., Ltd. (hereinafter referred to as Dongfang Electric, stock code: 600875) of part of the undertakings of China Dongfang Electric Corporation (hereinafter referred to as Dongfang Electric Corporation) so that Dongfang Electric may engage in concentration of undertakings from April 2, 2018. As a special legal counsel to Dongfang Electric, JT&N will provide legal services throughout this anti-monopoly scrutiny of undertakings concentration.
This anti-monopoly scrutiny is not only an important part of Dongfang Electric’s efforts to purchase assets by share offering on the A-share market but also an important strategic step taken by Dongfang Electric Corporation for the listing of its principal business, which involve a large number of target companies as well as a great deal of information on assets and businesses. JT&N’s lawyer team made an in-depth analysis on the market segments involved in the scrutiny, including, without limitation, generator sets (including thermal power generator sets, wind turbines, hydro-generators, etc.), high-voltage inverters, and bulk-cargo logistics and transportation services and conducted effective communication with the Anti-Monopoly Bureau of the Ministry of Commerce, which eventually contributed to the efficient completion of the anti-monopoly reporting task. JT&N got the unconditional approval from the Ministry of Commerce within less than three months of the launch of the project, which indicated JT&N’s superior strength in the field of anti-monopoly and won JT&N high praise from the client.
Founded on December 28, 1993, Dongfang Electric is a state-owned listed company by shares subordinate to the state-owned corporation Dongfang Electric Corporation. Its H shares were listed on the Hong Kong Stock Exchange in 1994, and its A shares on the Shanghai Stock Exchange in 1995. In 2007, Dongfang Electric consolidated by merger the listed company Dongfang Boiler Group Co., Ltd. through share swap. Dongfang Electric mainly engages in the manufacture, sale and R&D of power generation equipment, general equipment, electrical machinery and equipment and their spare parts in China and around the world, and is rated as an important power generation equipment manufacturer and power plant general contractor on both domestic and international scale.
This project was led by Senior Partner Chen Yang in cooperation with a team composed of lawyers from JT&N Beijing and JT&N Chengdu. Those participating in this project also include Senior Partner Rui Zhou, Partner Liya Peng and lawyers Xian Li, Wei Zhao, Jing Wen, and Zhenqi He.