Clifford Chance

Clifford Chance advises Haier on global regulatory filings for its controlling stake acquisition in Shanghai STEP

Global law firm Clifford Chance has advised Haier Group on the global merger control and FDI filings for its acquisition of a controlling stake in industrial automation company Shanghai STEP Electric Corporation (STEP).

Lead partner Yong Bai said, “This transaction underscores our market-leading expertise in navigating complex global antitrust and FDI regimes. We are delighted to support Haier once again as it expands its industrial innovation capabilities through strategic investments.”

Yong was supported by counsel Dayu Man in Hong Kong and associate Ziwen Wang in Beijing, as well as partner Dimitri Slobodenjuk and senior associates Simon Wattenberg, Arne Gayk and Julius Schradin in Düsseldorf. Senior associate Xiang Li from Shanghai He Ping Law Firm* provided additional support.

Haier is a global provider of better life and digital transformation solutions. STEP operates in three key segments: control and drive systems, robotics, and elevator controls solutions.

The firm's antitrust team regularly advises on major cross-border M&A transactions, including Haitong Securities on its landmark merger with Guotai Junan Securities, and Haier Smart Home for its acquisition of Carrier's Commercial Refrigeration business, which represents the first ever merger filing by a Chinese company before the European Commission under the new Foreign Subsidies Regulation (FSR) regime.

* Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.