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Zhong Lun Advises Suzlon for Transferring 75% Shares of Its China Subsidiary
Zhong Lun Advises Suzlon for Transferring 75% Shares of Its China Subsidiary
Suzlon Energy (Tianjin) Co., Ltd. (“Suzlon Tianjin") is a wholly-owned subsidiary set up by Suzlon for manufacturing and selling wind power equipment in China in 2006. In September, 2013, Suzlon signed a share transfer agreement with Poly LongMa Energy (Dalian) Ltd (“Poly LongMa"), and transferred to Poly LongMa 75% shares of Suzlon Tianjin in the price of US$ 28 million and thus restructured Suzlon Tianjin into a Sino-foreign equity joint venture, with Suzlon and Poly LongMa holding respectively 25% and 75% shares thereof.
As legal counsel of Suzlon, Zhong Lun Law Firm formed a legal team of Mr. LI Ya and Ms. CHEN Yilin and advised the entire process of this project in both English and Chinese, including the share transfer, the formation of the Sino-foreign equity joint venture, the license of related technologies, and the payment and settlement of the price following the signature of relevant legal documents。
Suzlon is the Top 5 wind turbine manufacturer and technology provider in the world, and after this share transfer, it will hold of 25% shares of the newly-established Sino-foreign equity joint venture.
