Lehman, Lee & Xu represented Katcon Global in the acquisition of the exhaust system assets of Delphi China.
Katcon Global closed its purchase of Delphi's catalytic converter and exhaust system business on July 31st, acquiring plants in China, India, Poland, Australia and South Africa, as well as research centers and IP assets in Luxembourg and the US. The deal required approval from Mexico's antitrust agency, the CDC, and regulators in other jurisdictions.
Katcon Global is Mexico’s largest supplier of catalytic converters, exhaust models, formed pipes, mufflers and complete systems and previously owned facilities in Mexico and Venezuela. With the completion of the asset purchase, Katcon now has offices and manufacturing facilities located in México, China, India, Venezuela, Australia, Poland and South Africa. Katcon Global’s design, R&D, and engineering offices are located in Michigan and Luxembourg.
Delphi is a leading global supplier of mobile electronics and transportation systems, including powertrain, safety, steering, thermal, and controls & security systems, electrical/electronic architecture, and in-car entertainment technologies. Headquartered in Troy, Mich., Delphi has approximately 124,000 employees and operates 136 wholly owned manufacturing sites in 34 countries with sales of $18.1 billion in 2008. On July 30th, a New York bankruptcy judge approved Delphi's plan to hand over control of the company to a group of creditors in exchange for the waiver of US$3.4 billion in debt, with some of its US assets going to GM. If the deal receives regulatory clearance, it could close by the end of August, allowing Delphi to emerge from the bankruptcy protection it first sought in October 2005.
Counsel to Katcon Global
Australia
Piper Alderman
China
Lehman, Lee & Xu LLP
India
Seth Dua and Associates
Luxembourg
Leclère & Walry
Mexico
Astudillo, Rodríguez y González Sandoval
Poland
Wiercinski Kwiecinski Baehr
US
Butzel Long
Counsel to Delphi
In-house counsel
David Sherbin, Sean Corcoran, Margaret Fukuda and Karen Craft,
US
Skadden, Arps, Slate, Meagher & Flom LLP
Lehman, Lee & Xu’s M&A team was lead by Ms Zhang Fan with assistance from Ms. Amy Yang, and Mr. Justin Zhu. The Firm’s Tax team was lead by Mr. Scott Garner with assistance from Mr. Bexcel Chen and Ms. Phoebe Zhu.
Lehman, Lee & Xu is a prominent Chinese corporate law firm and trademark and patent agency with offices in Beijing, Shanghai, Shenzhen, Hong Kong, Macau, and Mongolia. The firm is recognized as a leading expert in corporate law and an active member of the Shanghai community.
To learn more about us, please visit our website at www.lehmanlaw.com
