JHEECO acquires the e-mobility business from the thyssenkrupp-group
10 July 2020 – Jinzhou Halla Electrical Equipment Co, Ltd. (JHEECO), a wholly owned subsidiary of the Chinese Wonder Auto Group Ltd. has acquired the electromobility business from the thyssenkrupp-group by way of an asset deal. JHEECO is a leading Chinese manufacturer of electronic products for the automotive industry and produces in particular electric generators and starters for automobile manufacturers. The company was founded in 1996 and is now market leader in this product segment in China. In the thyssenkrupp-group, the electromobility business was mainly managed by teams in Liechtenstein and Hungary and in particular included research and development activities. The key intellectual property rights were owned by the thyssenkrupp-group parent company in Germany. The assets related to the electromobility business were spun-off from the thyssenkrupp-group and transferred to a newly incorporated Swiss company.
Walder Wyss acted as advisor to JHEECO in this transaction. The Walder Wyss team was led by Markus Vischer (Partner, Corporate/M&A) and included Michael Kündig (Senior Associate, Corporate/M&A), Christoph Zaugg (Associate, Corporate/M&A), Thomas Meister (Partner, Tax), Jan Ole Luuk (Counsel, Tax), Janine Corti (Counsel, Tax), Reto Jacobs (Partner, Competition) and Christoph Stutz (Counsel, Employment).