CIMC-TianDa Acquires Controlling Interest in Shenyang Jietong Fire Truck
Hong Kong – Paul Hastings, a leading global law firm, announced today that it is advising CIMC-TianDa Holdings Company Limited (“CIMC-TianDa”) (a subsidiary of China International Marine Containers (Group) Co., Ltd.) on the proposed acquisition, through its subsidiary Allied Best (China) Fire Safety Appliances Manufacturing Co., Ltd., of 60 per cent of the equity interests in Shenyang Jietong Fire Truck Co., Ltd. (“Shenyang Jietong Fire Truck”) at a consideration of RMB600 million (approximately US$88 million).
CIMC-TianDa is one of the leading manufacturers of fire engines, fire prevention and fighting equipment in the PRC. The principal business of Shenyang Jietong Fire Truck is the production of fire engines and aerial lifting fire trucks in the PRC, which complements CIMC-TianDa’s existing lines of business.
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