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4 Aug 2019
In July 2019, Ucar, a leading Chinese travel and automotive integrated service platform, closed its acquisition of 67% of the shares of Borgward, an automobile manufacturer, for consideration of approximately RMB 4.1 billion.
Borgward has established R&D centers in China, Germany and the U.S. This acquisition will strengthen Ucar’s control over the upstream market in the automobile supply chain and provide it significant advantages for platform integration with automobile and travel services.
DaHui’s team led by partner Jie Tong provided legal advice regarding PRC merger control review for Ucar’s acquisition.