Munich — Corporate law firm Gütt Olk Feldhaus has advised MAN Energy Solutions SE on the sale of its gas turbine business to China’s CSIC Longjiang GH Gas Turbine Co Ltd (GHGT) in a carve-out and asset deal. The transaction is subject to regulatory approvals and the satisfaction of other closing conditions. The parties have agreed not to disclose the purchase price.
Beyond the sale, both companies have concluded long-term supply and service agreements and will cooperate closely in the future. — To date, MAN Energy Solutions has been producing and servicing MGT gas turbines of up to 8 megawatts in size at its sites in Oberhausen and Zurich for use as mechanical drives or for power generation.
MAN Energy Solutions SE, headquartered in Augsburg, Germany, is a leading global supplier of large-bore diesel and gas engines and turbomachinery. The product portfolio includes two- and four-stroke engines for marine 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 China State Shipbuilding Corporation (CSSC) and employs more than 700 people worldwide.
GOF had advised MAN Energy Solutions, among others, on the acquisition of H‑TEC SYSTEMS GmbH in 2021.
Legal advisors MAN Energy Solutions SE:
Inhouse MAN Energy Solutions SE: Dr. Martin Söhngen, LL.M. (Deputy General Counsel and Head of Corporate, Competition and M&A)
Gütt Olk Feldhaus, Munich: Dr. Sebastian Olk (Partner, M&A, Lead), Thomas Becker, LL.M. (Of Counsel, IP/IT/Commercial), Maximilian Spindler, LL.M. (Senior Associate), Dr. Marcel Schmidt (Senior Associate), Sophie Steffen (Associate; all M&A)
Pusch Wahlig Workplace Law, Munich: Ingo Sappa (Labor Law)
Blomstein, Berlin: Dr. Max Klasse, Dr. Roland Stein, Dr. Leonard Freiherr von Rummel, LL.M. (all antitrust/foreign trade law)
held jaguttis, Cologne: Dr. Malte Jaguttis, Dr. Bernard Altpeter (Counsel; both Public Law/Subsidies)
Fangda Partners, Beijing: Jack Li (Chinese law)
Walder Wyss, Zurich: Florian Gunz Niedermann, Dr. Irène Suter-Sieber; Associate: Sabrina Kunz (all Swiss law)