London, 21 May 2007 – LAWFUEL – The Law News Wire – Baker & McKenzie LLP has advised Shanghai Automotive Industry Corporation (SAIC) in relation to the establishment of its UK Technical Centre through the acquisition, by its subsidiary, SAIC Motor UK Holding Co. Limited, of Ricardo (2010) Consultants Limited, now renamed SAIC Motor UK Technical Centre Limited.
The cross-practice Baker & McKenzie team that advised SAIC was led by London corporate Partner, James Burdett and included London associates Richard Jones (Corporate), Vanya Bromfield (Commercial), Ben Farnell (Property) and Colin Leckey (Employment). The London office worked closely with the Firm’s Shanghai and Hong Kong offices to close the transaction.
Commenting on the transaction, James Burdett said: “We are delighted to have worked with Shanghai Automotive on this deal which is an important milestone in the development of its global business. This transaction is another example of our offices in China and London working closely together to deliver a transaction to an exacting standard and timetable.”
SAIC, China’s largest state-owned car manufacturer, is a long-standing client of Baker & McKenzie. In 2006 it achieved a sales volume of 1.34 million units and entered the Fortune 500 with revenues of $14.36 billion.