December 18, 2018, China National Complete Plant Import and Export Group Corporation Limited (“COMPLANT”) signed a strategic investment and cooperation with Tialoc Group. Through its wholly-owned Hong Kong subsidiary COMPLANT HK, COMPLANT takes control of Tialoc Group and plans to build it into a Southeast Asian business centerand environmental protection professional platform, and actively participate in the “Belt and Road” initiative.
With the approval by the then Chinese Premier Zhou Enlai, the Complant Group was jointly established and administrated by the Ministry of Foreign Trade and the First Ministry of Machinery Industry in November 1959. In 2009, following approval by the State Council, the Complant Group was integrated into the State Development and Investment Corporation (“SDIC”) as its wholly-owned subsidiary. The Complant Group is primarily engaged in international contracting projects, which encompasses overseas investments, international trade, export of labour services and training of international integrated business systems. Founded in 2001 in Germany and now headquartered in Singapore, the Tialoc Group is primarily engaged in main contracting for projects, environmental technology and composite materials. This acquisition is of strategic significance for SDIC to strengthen its presence in countries along the routes of the “Belt and Road” Initiative, and is an important initiative by the Complant Group to fulfill its mission as the international business platform of SDIC.
As lead counsel in the transaction, KWM managed and coordinated the entire transaction, including conducting and coordinating due diligence across five countries (namely Singapore, China, Malaysia, Vietnam and Belgium), preparing and negotiating the transaction documents, and assisting the client and other parties with the successful signing and closing of the transaction. KWM has received high praise from participants in the project.
The project is led by partners Xu Ping, Yong Kaichang and Zhao Jingchuan.