P+P advised KME on joint venture with Golden Dragon in Hong Kong
KME AG, headquartered in Osnabrück, and the Chinese Golden Dragon Precise Copper Tube Group Inc., Xinxiang (China) founded the KMD (HK) Holdings Limited, a joint venture company headquartered in Hong Kong. Both companies are 50% shareholders of the joint venture company. The joint venture will produce and sell copper drum belts for coupling devices.
KME contributes its connector business at the factory in Stolberg, as well as other assets, as an in-kind investment in the joint venture company.
For that purpose, effective as of October 1, 2013, KME Germany GmbH & Co. KG had already outsourced its connector business to KME Stolberg GmbH prior to the foundation of the joint venture.
Golden Dragon acquired its shares in the joint venture company by way of cash capital investment.
The Munich P+P partner Dr. Eva Nase (lead, corporate) as well as the associates Philipp Opitz und Weirong Zhang (both corporate/M&A) advised KME.
