September 26, 2008
Catalyst Advises on Complex Far East Deal
The Birmingham branch of Catalyst Corporate Finance has advised on a complex international deal between German and Chinese companies in the engineering sector.
The firm acted as advisers on the sale of a 60 per cent stake in German firm TGE Gas Engineering to the publicly-quoted China International Marine Containers.
The deal allows TGE, one of the world's leading gas engineering, procurement and construction supervision contractors, access to new project opportunities in the fast-growing economies of China and the Far East.
Catalyst managing partner Andy Currie said: "TGE is a technologically world-class engineering and consulting business, seeking to tap into the fast-growth markets for its services in the Far East. This deal provides TGE management and staff with a fast track to these opportunities, as well as providing a strong international platform to develop and grow."
"This was a complicated transaction where we dealt with both Chinese buyers and German vendors as well as the added complication of obtaining Chinese stock exchange clearance.
"As with a large part of our recent company sales, we saw a great deal of interest from buyers in the Far East, as they continue to seek access to western technology, brands and sales."
Since 2000, TGE, which focuses on the design and construction of onshore plants for handling and storing liquefied gases, has completed 53 projects across the world. TGE's engineers and project managers include many of the leading specialists in the liquefied natural gas, liquefied petroleum gas and petrochemical fields.
China International Marine Containers (CIMC) is the world market leader in the field of ISO containers and develops, manufactures and sells box, reefer, special and tank containers.
CIMC is a Chinese publicly-listed company and has total revenues of approximately pounds 3.5 billion.
The Shenzhen-based company, which was founded in 1982, has 60 branches worldwide.
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