Giambrone advises a Chinese company in the acquisition of an Italian fixed asset portfolio

International law firm Giambrone (SLG) advise Dandong Xintai Electric (Xintai Electric) alongside Seta Capital on the acquisition of TMC Italia’s fixed asset portfolio in Italy, including land, plant, machinery and equipment.

It was announced on Monday 07 December that a memorandum of understanding had been signed between Dandong Xintai Electric (Xintai Electric) and TMC Italia S.p.A., an Italian cast resin transformer manufacturer, by way of a binding letter of intent

According to the terms of the agreement, TMC has agreed to form a strategic partnership to cooperate worldwide to grant technology, trademark, intellectual property rights and permissions in its global sales network to the company and to appoint the company as its priority supplier, as well as TMC to become dealer of the compan

y's oil-immersed transformer. The proposed transaction will be submitted to the relevant regulatory authorities. The completion of the transaction would also be subject to customary regulatory and antitrust approvals.

“Every year, we handle several mergers and acquisitions (M&A) transactions, making our practice one of the most active in the firm – says Gabriele Giambrone, Managing Partner, who has supervised the transaction – This was a great transaction for us to work on with Tommaso Lazzari and Tanya Wen of SETA Capital. Our teams worked tirelessly to provide a seamless service in a multi-jurisdictional and multi-disciplinary transaction.”

Dandong Xintai Electric is a Chinese provider of energy efficient power equipment and service solutions used in power transmission and distribution systems; it develops designs, manufactures and sells grid performance optimization equipment such as energy-efficient transformers and other power transmission equipment, and reactive power compensation devices.

TMC is a leading cast resin transformer manufacturer in Europe and has built a worldwide presence

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