MAN Energy Solutions’ Sale of its Gas Turbine Business to GHGT Fangda Partners advised MAN Energy Solutions on the sale of its gas turbine business to CSIC Longjiang GH Gas Turbine CO Ltd (GHGT). Gütt Olk Feldhaus, Blomstein and held jaguttis also advised MAN Energy Solutions. The transaction, which remains subject to regulatory approval and various closing conditions, comes alongside the conclusion of long-term supply and service agreements between the two companies, setting the stage for close cooperation in the future. The parties agreed not to disclose the purchase price. MAN Energy Solutions is an Augsburg-based supplier of large diesel and gas engines and turbomachinery. Boasting a team of around 14,000 employees across more than 120 worldwide locations, the company’s product portfolio includes two and four-stroke engines for maritime and stationary applications, turbochargers and propellers as well as gas and steam turbines, compressors and chemical reactors. GHGT is based in Harbin, China, and is a subsidiary of the China State Shipbuilding Corporation (CSSC) with more than 700 employees worldwide. The company develops small and medium-sized gas turbines as well as high-performance and combustion technologies. Fangda Partners advised MAN Energy Solutions on Chinese law aspects with a team led by partner Jack Li. ABOUT THE DEAL 80 LAWYER MONTHLY AUGUST 2023
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