DLA Piper has advised TMH Africa on the acquisition of a 45,000 square meter DCD Rolling Stock manufacturing facility in Boksburg, South Africa, from the DCD Group.
TMH Africa is a subsidiary of Transmashholding, the largest manufacturer of rolling stock in Russia. It is 30% owned by the Black Economic Empowerment Partner, MJISA.
According to DLA Piper, with the acquisition of the rail manufacturing facility, TMH Africa and MJISA "will contribute towards South Africa's economy through job creation and skills development in line with South Africa's National Development Plan's key priorities. The rolling stock manufacturing facility will become Africa's gateway production site, which will enable the assembly, maintenance and refurbishment of rolling stock. TMH Africa's workforce will continue delivering innovative diesel and electric locomotives as well as coaches in South Africa and the rest of the continent."
The transaction was led for DLA Piper by Moscow-based Corporate Partner Steffen Kaufmann, and Johannesburg-based Corporate Director Marita van der Walt, assisted by Johannesburg-based Tax Director Andrew Lewis and Corporate Senior Associate Amy Eliason, and Moscow-based Corporate Legal Director Mukhamed Evloev.