BLP advises on first ever European Commission clearance of a China-to-China deal
BLP has acted for China-based companies PCM/Nexteer and AVIC Auto on the international merger control aspects of AVIC’s acquisition of PCM/Nexteer. BLP’s groundbreaking work on this matter led to the first-ever merger notification to, and unconditional clearance by, the European Commission of a transaction involving the acquisition of a Chinese company by another Chinese company.
The BLP team was led by Brussels-based Competition, EU and Trade partner Dave Anderson, and assisted by Brussels associates Paul Johnson and Annabel Baxter. The team also worked closely with the lead corporate counsel for PCM, Detroit-based Miller Canfield Paddock & Stone (MCPS).
BLP’s Competition, EU and Trade team has significant international merger control experience, with members representing global clients on complex multijurisdictional deals before regulators worldwide to secure the necessary clearances. The team is rapidly expanding and now includes lawyers spanning BLP’s London, Brussels and Moscow offices.
This is the team’s second major merger control victory on behalf of Chinese clients as in 2010 PCM turned to BLP and MPCS as well on the initial acquisition by PCM of the Nexteer business from General Motors.
Commenting on the transaction AVIC Auto Chairman Mr Zhao Guibin said “BLP’s Brussels antitrust team did a fantastic job securing our European Commission clearance. AVIC Auto commends their expertise in advising Chinese companies on international merger control.”
Dave Anderson said “We are delighted to have served the parties to achieve such a historic clearance from the European Commission. We are particularly pleased to have worked on this transaction following on from our success last year in obtaining the necessary European clearances of PCM’s acquisition of Nexteer from GM. It has been a real honour for BLP to advise these prestigious Chinese companies and help them expand internationally.”
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