Date Published: 9th August 2012
Noerr advises Youngman Automobile on takeover of bus manufacturer Viseon
Frankfurt, 9 August 2012. The Chinese bus manufacturer Youngman Automobile Group Ltd. has acquired a majority stake in Viseon Bus GmbH based in Pilsting, Lower Bavaria. The purchaser was advised by a team led by the Frankfurt partner Dr. Thorsten Reinhard at the international law firm Noerr. Youngman has acquired 74.9% of the German company and participated in a capital increase which will facilitate further growth at Viseon. The transaction is subject to the approval of the Chinese authorities.
The Youngman Automobile Group is one of China's largest bus manufacturers. By acquiring a majority stake in Viseon, it is increasing its manufacturing capacity for modern buses and strengthening its position in the global market. Viseon has continuously improved its market position since the purchase of the former Neoplan works in 2009. The company expects further growth and expansion of its European market presence following Youngman's investment. The Pilsting facility and approximately 240 jobs will be maintained.
Noerr has many years of experience in German-Chinese transactions. In recent years, the law firm has advised the Chinese construction machinery manufacturer XCMG on the agreement of a strategic partnership with the Schwing Group and the Chinese investment company Ningbo Joyson on the takeover of a majority stake in the automotive supplier Preh.
Advisor Youngman Automobile Group Ltd: Noerr LLP
Dr. Thorsten Reinhard (team lead, Corporate), Hui Zhao (Noerr China Desk), Dr. Alexander Jänecke (Real Estate, all Frankfurt)
Associates: Maren Prigge, Henning Kuschewitz, Jan Kriszeleit LL.M., Dr. Hendrik Mutschmann (all Corporate, Frankfurt), Dr. Nikolai Warneke (Frankfurt), Martina Legler (both Finance, Munich), Dr. Frank Degenhardt, Martin Gliewe (both Employment, Frankfurt), Yifan Zhu (China Desk, Frankfurt), Dr. Patrick Spring (Frankfurt), Thomas Sternberg, Tilmann Walz (both Munich, all Commercial), Tobias Kugler, Eva Weidlich-Flatten (both IT, Frankfurt), Katja Schmid LL.M. (Litigation, London)
Noerr is a leading European commercial law firm with more than 470 professionals, five offices in Germany, seven in Central and Eastern Europe, an office in London, one in Alicante (Spain) and a representation in New York. Our core business is excellent legal and tax advice developing sustainable solutions and creating added value.
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.