King & Wood Mallesons advises HASCO on acquisition of Yanfeng Visteon Automotive

King & Wood Mallesons has advised Huayu Automotive Systems Company Limited (HASCO) on the acquisition of 50 per cent of Yanfeng Visteon Automotive Trim Systems Company.

On 12 August 2013, HASCO entered into an agreement with Visteon International Co Ltd (Visteon), a wholly-owned subsidiary of Visteon Corporation, for acquisition of 50 per cent equity interest in Chinese joint venture Yanfeng Visteon Automotive Trim Systems Co Ltd held by Visteon, in consideration of $928.4m, as well as Visteon’s interests in other related interiors joint ventures.

The project was led by partners Richard Nie, Sidney Qin and Wang Lixin. The team also included partners Liu Cheng and Tony Dong and associates Sally Hou, Doris Zhang and Hanyu Zhang.