Gleiss Lutz has advised Sinochem Holdings Co., Ltd. on the restructuring of its German investment, the KraussMaffei Group.
The restructuring by using debt-to-equity swaps at various shareholder levels was primarily aimed at improving the capital structure and financial performance of the KraussMaffei Group.
The Sinochem Group, which merged with ChemChina in 2021, is one of the largest chemical companies in the world. The chemicals conglomerate headquartered in Beijing primarily operates in the agricultural and petrochemical sectors, as well as other business areas such as rubber and plastic manufacturing, production technology, mechanical engineering, and industrial financing. Sinochem's foreign investments include a majority stake in the Israeli plant protection group Adama, the French feed additive producer Adisseo, the Australian polyethylene and polymer producer Qenos, the Italian tire manufacturer Pirelli, and since 2016, the German mechanical engineering group KraussMaffei.
Based in Parsdorf, the KraussMaffei Group is a leading global manufacturer of machinery and systems for the production and processing of plastics and rubber. The group offers a wide range of technologies in injection molding, extrusion, reaction process machinery, and additive manufacturing. KraussMaffei serves customers from various industries, including automotive, packaging, medical and construction industries as well as manufacturers of electrical and electronic products and household appliances. KraussMaffei employs around 4,700 people worldwide and is represented internationally with more than 30 subsidiaries, over 10 production sites and around 570 sales and service partners.
Gleiss Lutz has a leading China Practice and regularly advises Chinese companies on their investments in Germany and Europe and German clients with their business dealings in China.
The following Gleiss Lutz team led by Dr. Michael Burian (Partner, Frankfurt), and Dr. Yixiao Li (Stuttgart) acted for Sinochem Holdings Co., Ltd.: Alexandra Brücher (Stuttgart), Thomas Härtinger (all M&A, Berlin), Dr. Jacob von Andreae (Partner), Aylin Hoffs (Counsel), Lennart Förster (all Public Law, all Düsseldorf), and Maximilian Leisenheimer (Real Estate, Frankfurt).
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