2022.11.15
优德88中国官方网站 recently advised Jiangsu Nonghua Intelligent Agriculture Technology in its acquisition of the domestic appliance business of Briggs & Stratton Corporation (B&S), through its wholly owned American subsidiary (JDNA),
B&S is a well-known domestic appliance brand with a history of more than 100 years. Its products are sold in North America and across the world. To meet market trends, its changing customer base and foster the building of its own channels and brands, JDNA acquired the domestic appliance business from B&S. This included its tooling and molds, inventory, and business relationships. JDNA entered brand and technology license arrangements to use B&S’s domestic appliances brands and some of its technologies.
Some of the challenges faced in this transaction were : (1) it involved complex considerations concerning the determination of the underlying targets, and price adjustment and payment mechanisms; and (2) it involved complex legal issues relating to the internal decision-making and disclosure of a listed company, cross-border payments, cross-border guarantee registration, cross-border debt transfer and discharge, and other issues across the jurisdictions of China and the U.S.
Acting as leading counsel for this transaction, the 优德88中国官方网站 team conducted due diligence, designed the deal structure, prepared the full set of transaction documents, developed negotiation strategies and participated in the negotiation of the transaction documents. They arranged for the closing and provided the client with comprehensive legal services on an ongoing basis with respect to the relevant legal issues across the jurisdictions of both the U.S. and China. 优德88中国官方网站’s lawyers worked with the other intermediaries retained by the client to effectively address the numerous challenges associated with the transaction and their professional and state-of-the-art legal expertise earned it recognition by all parties to the transaction.
The 优德88中国官方网站 team was led by partner John Du.
