14 January 2013
Mayer Brown JSM has advised the largest privately-owned clean-energy developer in China, Hanergy Holding Group Limited (Hanergy), on its acquisition of Silicon Valley-based MiaSolé. MiaSolé is a high-tech company that designs and manufactures solar photovoltaic cells and modules, to convert sunlight into electricity.
Hanergy plans to ramp up the MiaSolé factory to full capacity, retain its over 100 employees and hire additional staff. It also acquired Solibro GmbH, the solar unit of Q-Cells SE, in Germany last September. Both acquisitions will allow Hanergy to collaborate through patent sharing and significantly improve its efficiency, as it anticipates a revival of the solar industry.
Mayer Brown JSM partner Xiangyang Ge said, “Solar is the future. We are very pleased to have brought this transaction to a close. We are also honoured to have successfully advised Hanergy on its acquisition of Solibro GmbH. Both acquisitions will give the industry leader a new global footprint and increase its competitive edge in the market.”
The transaction was led by Corporate & Securities partners Xiangyang Ge in Beijing, Mark Uhrynuk in Hong Kong and Paul C. de Bernier in Los Angeles.