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Tahota Helped Core Subsidiaries of Qingling and Japanese ISUZU Finish Their Absorption-type Merger

Release: 2019-1-24From: TAHOTAViews: 152

   Recently, Qingling Isuzu(Chongqing) Engine Co., Ltd.( hereinafter referred to as “QIEC”) and Isuzu Qingling(Chongqing) Auto Parts Co. Ltd. (hereinafter referred to as “IQAC”), two core subsidiaries established by ISUZU Motors Company (Tokyo stock exchange code: 7202, hereinafter referred to as “ISUZU”) and Qingling Motors Co., Ltd. (Hong Kong stock exchange code: 01122, hereinafter referred to as “Qingling Shares”) in Chongqing, completed their absorption-type merger (hereinafter referred to as “Merger of the Two Companies”). More than 200 people attended the signing ceremony, including leaders of Chongqing SASAC, Business Commission, Commission of Economy and Information Technology and Jiulongpo district government, leaders and staff representatives of Qingling and Isuzu company, and media representatives.

   Japanese Isuzu is one of the largest and oldest commercial vehicle manufacturers in the world and has been leading the trend for commercial truck technology for a long time. The joint venture and cooperation between Qingling Group and Isuzu has gone through 33 years since the establishment of Qingling Shares in 1985 which was the first Sino-foreign joint venture enterprise in Chongqing as well as the first Sino-Japanese joint venture enterprise for automobile manufacturing in China and was listed in Hong Kong in 1994. On that basis, the two sides gradually established all-round cooperation in the field of technology, management, market and capital, etc. The implementation of Merger of the Two Companies suggested the common aspiration of both sides to go further in integrating assets, centralizing resources and continuing to strengthen the strategic partnership between China and Japan. It also highlighted both sides’ determination to focus on cultivating the new generation 4JZ engine industry of Isuzu and to make the engine the business pillar of Qingling Shares in addition to commercial vehicles.

   The merger involved the application of laws in mainland China, Hong Kong and Japan, with a total asset of us $500 million. Tahota (Chongqing) Law Firm worked as the legal adviser of Merger of the Two Companies in mainland China. Tahota senior partner Doc. Liu Zhiqiang, lawyer Luo Yingfu and lawyer Shi Qinghong cooperated with the Chinese and foreign organizations including Hong Kong lawyer teams, and provided high-quality and efficient legal services for Merger of the Two Companies.