Gleiss Lutz advises Chinese Company on investment in listed Singulus Technologies
Gleiss Lutz advised Triumph Science&Technology Group Co., Ltd (“Triumph”), an indirect subsidiary of the People’s Republic of China, on its acquisition of a 13% interest in the listed Singulus Technologies Aktiengesellschaft (“Singulus”) from the previous main shareholder.
Singulus, listed in the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange and having its registered office in Kahl am Main, is the parent company of the Singulus Group, which develops, manufactures and sells machines and systems worldwide for production processes in the areas of vacuum coating, surface processing and wet-chemical processes for various end applications. These machines are used in different industries such as, for example, the solar, semiconductor and consumer good industries, medical technology as well as for the production of optical discs. The Singulus Group currently has around 320 employees.
Triumph, all of whose shares are directly held by the Chinese state-owned CNBM (China National Building Materials), is the parent company of the Triumph Group, which is active in many areas having to do with engineering, general contractorship as well as project management with respect to the building materials industry, especially as regards steel and glass technology, “cement engineering” and “new energy engineering”. As part of its “new energy engineering” activities, Triumph promotes low-energy houses and operates in the solar power industry. In this area Triumph develops, produces and sells, above all, building-integrated solar cells and modules and provides support for the installation of solar parks and solar power plants.
Led by Dr. Christian Cascante (Stuttgart, partner, corporate/M&A), the Gleiss Lutz team was made up of the following lawyers: Dr. Jochen Tyrolt (partner), Sava Kasaliyski, Simon Dewes (all Stuttgart), Dr. Daniel Heck (Hamburg), Florian Schorn (Munich, all corporate/M&A), Jan-Rasmus Roßkamp (corporate and capital markets, Frankfurt), Dr. Iris Benedikt-Buckenleib (counsel) and Tobias Klemm (both Munich, competition/antitrust).