Han Kun Represents Air Products in its Joint Venture Formation and Asset Acquisition with Shanxi Lu'An
September, 2017 - Beijing, Mainland China
On September 9, 2017, Air Products and Shanxi Lu'An Coal Based Clean Energy Co, Ltd. ("Lu'An") held the signing ceremony for the formation a $1.3 billion joint venture ("JV"). Under the joint venture plan, Air Products will contribute air separation units and cash for 60% ownership of the JV, while Lu’An will retain 40% ownership and receive a cash payment for its contribution of gasification and syngas purification systems. As the controlling shareholder, Air Products will fully consolidate the JV financial results in its global financial statements.
Founded in 1940 and headquartered in Allentown, Pennsylvania, United States, Air Products (NYSE: APD) is a world-leading industrial gases company and a member of the Fortune 500 family.
As legal counsel to Air Products, Han Kun provided full legal services for the formation of the JV and asset acquisition, including advising on the transaction structure, performing legal due diligence, and drafting and negotiating the transaction documents.
