On July 30, Wuxi Communications Construction Engineering Group Co., Ltd. (WCCG) signed an agreement with the controlling shareholders of Huaren Construction Group Co., Ltd. (the target company) to purchase 55% of the shares of the latter and become its controlling shareholder. Senior officials of Wuxi Municipal State-owned Assets Supervision and Administration Commission and Wuxi Communications Industry Group attended the signing ceremony.
The target company is one of the largest construction enterprises in Wuxi, and the city's only holder of Premium Certificate in Construction. Through this deal, the two construction enterprises will join forces, become the most competitive player in the local construction industry, and become the backbone force in building Wuxi into a strong, prosperous, beautiful and high-tech city.
As the legal counsel of the WCCG, the DeHeng team, led by partner Wang Jianming from Wuxi Office, provided professional, comprehensive and high-quality integrated legal services for the eight-month deal, including research of the target company, setting up M&A models, establishing valuation models, drafting the framework agreements, engaging in the acquisition, drafting the acquisition agreement and providing guidance and services for the settlement.