China: JT&N Assisted HBIS with an Equity Transaction with Danieli of Italy
Recently, Danieli & C. S.p.A. (“Danieli”), a leading Italian manufacturer of metallurgical technology and equipment, has reached an equity transaction with HBIS Group Co., Ltd ("HBIS") by subscribing newly increased registered capital of its subsidiary, Shijiazhuang Iron & Steel Co., Ltd (“SIS”). Having enjoyed a good relationship proven by many cooperation and achievements, this time HBIS and Danieli focused the new project of SIS, which integrates the brand, talents and market advantages of HBIS and the business philosophy, technology and management of Danieli to jointly build a globally competitive special steel enterprise.
As the legal advisor of HBIS, JT&N provided it with full legal services for this transaction, including scheme design, legal due diligence, drafting and negotiation of transaction documents, closing, coordination and communication with regulatory authorities.
Danieli is a century-old company based in Italy and one of the world's biggest three leading manufacturers of metallurgical technology and equipment. HBIS is one of the world's largest manufacturers and integrated service providers of steel materials, and has developed into No. 1 supplier of steel in China for major appliances and the second largest supplier of steel for automobiles, as well as a leader in steel materials for ocean engineering and bridges.