Clifford Chance advises China Baowu Group on global antitrust filings of its acquisition of equity interest in SD Steel Group

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9 January 2024

Clifford Chance advises China Baowu Group on global antitrust filings of its acquisition of equity interest in SD Steel Group

Global law firm Clifford Chance has advised the world's largest steel producer China Baowu Steel Group Corporation Limited on the global merger control filings for its acquisition of equity interest in Shandong Iron & Steel Group Co., Ltd.

Lead partner Yong Bai said, "We are deeply grateful for the trust placed in us by China Baowu Steel. This complex transaction required a deep understanding of global merger control rules and our team demonstrated exceptional expertise and collaboration, which were instrumental in the successful completion of this transaction. We look forward to continuing our work with China Baowu Steel and contributing to their ongoing success."

Yong was supported by counsel Dayu Man in Hong Kong, associate Nan Lan in Shanghai, and associate Shuai Gao in Beijing. Partners Marc Besen and Dimitri Slobodenjuk, and senior associate Arne Gayk in Düsseldorf provided advice on the German merger control rules. The complex transaction also involved local counsel from multiple jurisdictions.

China Baowu Steel Group, a state-owned iron and steel company headquartered in Shanghai, is the largest iron and steel company globally. SD Steel is a state-owned enterprise headquartered in Jinan, Shandong Province, and majority owned by the State-owned Assets Supervision and Administration Commission of Shandong Provincial People's Government. It mainly engages in the manufacturing and distribution of steel products.

The Greater China antitrust team is a leading legal adviser of Chinese state-owned enterprises on global merger control and foreign investment control matters, having advised on China National Tire & Rubber Corporation. Ltd.'s renewal shareholders' agreement concerning the governance of Pirelli & C. S.p.A., China Baowu Group's restructuring of Sinosteel Group, the strategic restructuring of China XD Group and related subsidiaries of State Grid Corporation, the merger between Sinochem and ChemChina and China State Shipbuilding Corporation Limited's merger with China Shipbuilding Industry Corporation.

高伟绅就中国宝武钢铁集团收购山东钢铁集团股权项目所涉境外反垄断事务提供法律服务

国际领先律师事务所高伟绅为中国宝武钢铁集团有限公司收购山东钢铁集团有限公司股权所涉的境外反垄断申报提供法律服务。

本项目的牵头合伙人柏勇表示：我们由衷感谢中国宝武给予高伟绅团队的信任。此次复杂交易要求律师具备对全球反垄断规则的深入理解，而我们的团队展现了出色的专业技术和合作精神，保障了交易的成功完成。我们也期待继续与中国宝武合作，助力其商业成就。

本交易的跨国法律服务团队由大中华区反垄断业务主管合伙人柏勇牵头，主要团队成员包括香港办公室满大宇、上海办公室蓝楠和北京办公室高帅。杜塞尔多夫办公室合伙人Marc Besen和Dimitri Slobodenjuk、高级律师Arne Gayk也就德国反垄断法事项提供建议。此外，本项目还涉及多个国家的当地律师团队。

中国宝武钢铁集团有限公司总部设于上海，是全球最大的钢铁公司。山东钢铁集团是一家总部位于山东济南的大型国有企业，由山东省人民政府国有资产监督管理委员会持有多数权益，主要从事钢铁产品的生产和销售。

高伟绅大中华区反垄断团队多次为国有企业客户的重大交易提供境外反垄断和外商投资申报相关的法律服务，包括中国化工橡胶公司就倍耐力治理续签股东协议相关意大利外商投资申报、中国宝武集团与中钢集团实施联合重组交易、中国西电集团与国家电网部分企业实施战略重组的交易、中化集团与中国化工集团的合并交易、中国船舶工业集团有限公司与中国船舶重工集团公司的合并等。