Global law firm White & Case LLP has advised Salcomp Holding, owned by Nordstjernan and The Sixth Swedish National Pension Fund (AP6), on the sale of Salcomp Group to publicly listed Chinese component manufacturer Lingyi iTech (Guangdong) Co.
The transaction is subject to customary regulatory approvals and is expected to complete before the end of the year.
Nordstjernan is a family-controlled investment company that develops companies through active ownership to create long-term growth. In total, Nordstjernan's holdings generate sales in excess of SEK100 billion and have approximately 60,000 employees. Nordstjernan's largest shareholders are the Axel and Margaret Ax:son Johnson Foundations.
AP6 is a state-owned pension fund manager which specializes in investments in unlisted assets, with approximately SEK34.7 billion in assets under management.
Salcomp is a world-leading manufacturer of chargers for mobile phones and other electronic products for the smart and connected world. It also produces batteries for mobile phones and products for wireless charging. Salcomp's customers comprise all major manufacturers of mobile phones and the company has production facilities in China, India and Brazil.
The White & Case team which advised on the transaction was led by partners Jan Jensen (Stockholm), Vivian Tsoi (Shanghai), Farhad Jalinous (Washington, DC) and Marc Israel (London), with support from counsel Keith Schomig (Washington, DC) and associates Viktor Leisnert, Jonas Lagerroos, Jonas Brandt, Anders Westling (all Stockholm), Essi Lavikkala (Helsinki) and Xiaofeng (Allison) Gong (Beijing).
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