Legal experts advising a recent acquisition involving Chinese capital have seen an increased level of practical and legal difficulty for Chinese investment in the German market.
Orrick recently advised a new materials industry fund co-managed by QFAT Investment and ICP Integrity Capital Partners on the acquisition of a controlling shareholding of COTESA, a leading German manufacturer of high-quality fibre composite parts for aviation and automotive engineering.
Beijing headquartered AT&M Advanced Technology & Materials is an anchor investor of the fund and will assist COTESA in expanding its production and sales operations to the Chinese market.
Co-managing partner
Orrick, Germany
Wilhelm Nolting-Hauff, a co-managing partner of Orrick’s Germany offices, told Asia Business Law Journal that various factors had increased the level of difficulty for investment by Chinese investors in Germany.
In the recent past, he said there were prominent samples with comprehensive press coverage where Chinese investors were not able to close the transaction due to a lack of financing. “In addition, the general perception in the German market is that it has become more and more difficult for Chinese investors to arrange for the export of capital from China to Germany,” he said.
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