Gütt Olk Feldhaus advised MAN Energy Solutions SE on the sale of its gas turbine business to Chinese CSIC Longjiang GH Gas Turbine Co Ltd (GHGT).
The transaction is subject to regulatory approvals and the fulfilment of other closing conditions. The parties have agreed not to disclose the purchase price.
In addition to this transaction, both companies have entered into long-term supply and service agreements and will cooperate closely in the future.
So far at its sites in Oberhausen, Germany, and Zurich, Switzerland, MAN Energy Solutions produces and services amongst others gas turbines of the MGT type up to a size of 8 megawatts for use as mechanical drives or generating energy.
MAN Energy Solutions SE, based in Augsburg, Germany, is a leading global supplier of large diesel and gas engines and turbomachinery. The product portfolio includes two- and four-stroke engines for maritime and stationary applications, turbochargers and propellers as well as gas and steam turbines, compressors and chemical reactors. The company employs around 14,000 people at more than 120 locations worldwide.
Headquartered in Harbin, China, GHGT develops small and medium-sized gas turbines as well as high-performance and combustion technologies. The company is a subsidiary of the China State Shipbuilding Corporation (CSSC) and employs more than 700 people worldwide.
GOF already advised MAN Energy Solutions for instance on the acquisition of H-TEC SYSTEMS GmbH in 2021.
23rd June 2023