Clifford Chance advises China State Shipbuilding Corporation on antitrust aspects of merger with China Shipbuilding Industry Corporation
Leading international law firm Clifford Chance has advised China State Shipbuilding Corporation Limited (CSSC) on the merger controls and Foreign Direct Investment filings for its merger with China Shipbuilding Industry Corporation (CSIC). The merger of the two largest Chinese shipbuilders represents a combined asset value of approximately US$115 billion (RMB790 billion), making the merged entity the largest shipbuilding company in the world.
Partner Yong Bai led the cross border team and in Beijing was supported by senior associate Dayu Man and trainee Zihan Zheng. Others involved in the global network included partners Richard Blewett and Anastasios Tomtsis and associate Jonathan Blondeel in Brussels, and partner Torsten Syrbe and senior associate Olga Mizikova in Moscow.
Yong Bai said, “Our international team was very pleased to advise on this historic and strategic deal for the China shipbuilding industry.”
The international antitrust team recently advised China Baowu Steel Group on the merger controls and Foreign Direct Investment filings in numerous jurisdictions for its acquisition of a 51% stake in Taiyuan Iron & Steel.