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Asian business sold thanks to cross-border deal negotiations by Napthens
16/09/2008
NAPTHENS solicitors has cemented its position as a cross-border M&A specialist with the completion of the sale of a business which touched on the jurisdictions of England, Hong Kong, the People’s Republic of China and Germany.
Andrew Industries Ltd, based in Accrington, Lancashire, is a global group specialising in the design and manufacturer of industrial textile and other products.

Napthens’ corporate team, led by head of department Andrew Clare, advised Andrew Industries on the simultaneous sale of two of its commercial and manufacturing arms in the UK and China.

Firstly, the shares in manufacturing side of the business, Humber China Limited, a Hong Kong registered company and its trading subsidiary, Humber Bulk Bag (Shenzhen) Company Ltd, based in China, were sold to German company Storsack Holding GmBH.

Then, as part of the same deal, Napthens also advised a second Andrew Industries company, Humber Europe Limited, on the sale of its business and specified assets in the UK to British firm Storsack UK Limited.

Andrew Clare of Napthens led the team that advised Andrew Industries and Humber Europe. Dickinson Dees of York advised the purchasers. Advice was also provided to Andrew Industries by Clyde & Co. (Hong Kong) and Deheng Law (Shenzhen).

Mr Clare said: “This was a highly complex deal which involved liaising with firms in a number of different legal jurisdictions and required an in-depth knowledge of international law.

“I am delighted to have helped complete this deal. Andrew Industries is a market-leader in a global industry and this move will allow the company to cement its position for the future.”

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