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Wolf Theiss Advises Chinese Corporation on Purchase of European Headquarters in Graz

Wolf Theiss Advises Chinese Corporation on Purchase of European Headquarters in Graz

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Wolf Theiss has advised the China Electronics Technology Group Corporation (CETC), working in collaboration with two other partners from China, on the establishment of its European headquarters in Graz, Austria. The deal to purchase a production site and office building from the Steinklauber Group was signed recently, with Economic Minister of Styria Christian Buchmann and a high-ranking delegation from China in attendance.

Wolf Theiss advised CETC not only on the legal due diligence but also in all real estate aspects of the transaction as well as the structuring of the corporation created for CETC's activities in Europe.

With more than 140,000 employees, CETC ranks among the largest corporations in China. CETC's partners in the purchase of the site in Graz are Jiangnan Electronics Communication Research Institute from the Zhejiang province and the Tianjin Institute of Power Sources. The Styrian capital was selected as its corporate headquarters because of its research partnership with the Graz University of Technology and because of its central location in Europe, among other reasons. The Steinklauber Group is a technology company headquartered in Graz with strong ties to China.

"Assisting CETC in this move to Europe was a unique assignment for us," said Wolf Theiss Partner Michael Binder, who led the firm's team on the matter, about the successful conclusion of the transaction. "Our China Desk's ability to advise CETC in their native language significantly contributed to this success." 

In addition to Binder the Wolf Theiss team consisted of Senior Associate Elisabeth Strobl and Associates Jiayan Zhu, Lukas Slameczka, and Iris Riepan.

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