China Practise: Luther assists Baosteel with acquiring automotive supplier Tailored Blanks

Following the takeover of Wuhan Iron and Steel Group (WISCO) in 2016/17, Chinese steel producer Baosteel has now integrated the Tailored Blanks Group by way of acquisition. Luther lawfirm assisted Baosteel.

The Tailored Blanks Group is a specialist automotive supplier, producing tailor welded blanks for OEMs and tier-one suppliers. Originally it formed part of ThyssenKrupp Steel Europe (TKSE). In 2012 it was acquired by Wuhan Iron and Steel Group (WISCO); the deal was closed in July 2013.

Baosteel and WISCO were merged into Baowu Group in 2016/17, making it the second largest steel producer of the world. Following the merger, Baosteel has now also taken over WISCO’s Tailored Blanks business, with a view to integrate it into its own operations.

Luther, which also has an office in Shanghai, has a dedicated China practise, amongst others in Düsseldorf and Cologne, with a special focus on Chinese outbound investments. Luther regularly advises Chinese corporates (such as Baosteel, WISCO, Kingenta, Weihua, Hisense, ZTE and others) on their German legal questions.

For Baosteel

Luther, M&A/Corporate: Dr. Michael Krömker, MBA (Lead Partner); Xi Xie, LL.M., Kamil Flak (all Dusseldorf); Dr. Yuan Shen, LL.M. (Cologne)