1 December 2015
Deals | China | M&A
Gide has advised Chongyi Zhangyuan Tungsten Co., Ltd. (Zhangyuan Tungsten), the only Chinese-listed company in the tungsten industry, on its acquisition of 100% of the equity interests in ELBASA and 80% in UF1. It is the company’s first investment in Europe.
Located in Jiangxi Province, Zhangyuan Tungsten (002378:SZ) makes and sells tungsten products, operating a wide range of businesses in mining, production, processing and trading.
UF1 and ELBASA are both based in France. UF1 is a mechanical engineering firm specialising in machinery, manufacturing of cutting tools, and supply of cutting fluid and coating materials, as well as solutions for industrial machining applications. ELBASA leases factory buildings to UF1.
The Gide team was led by Shanghai partner Fan Jiannian, with the assistance of Gide Paris counsel Alexis Pailleret and associate Ghita Bourquouquou.