China's Eversheds invests in Denmark technology

[newsroom]

HONG KONG, June 30, 2010 - International law firm Eversheds has advised world-leading solutions provider of acoustic products AAC Acoustic Technologies Holdings Inc on its investment in the Danish industry leader in optical components and technology Kaleido Technology ApS. Kaleido's technology solutions offer extremely cost-effective manufacturing of all-glass aspheric lenses and provide the ideal solution for wafer-scale integration technologies, a solution of high value to AAC Acoustic Technologies.

Eversheds advised AAC on all aspects of the deal comprising due diligence, deal documentation, Hong Kong Stock Exchange notifications and related issues. Eversheds team of experts was made up from across the firms Copenhagen and Hong Kong offices.

Eversheds Copenhagen partner Nikolaj Juhl Hansen comments:

"We are currently seeing a trend of Chinese companies going global and more and more of these companies are looking for attractive investment opportunities in Denmark within all sectors. We are working on a number of other Chinese investments into Denmark at present which is a significant shift in the nature of the businesses investing into Denmark".

Managing director for Eversheds Hong Kong office, Nick Seddon says:

"One of the key strengths of Eversheds which appeals to Chinese corporates looking to invest in Europe is how seamlessly our Asian offices and European offices work together. This transaction was a perfect example of this. Eversheds has a strong presence in Asia advising in India and Kuala Lumpur as well as having offices in Hong Kong, Shanghai and Singapore, and has vast experience with advising Chinese companies making investments into European companies."

Mr Benjamin Pan, the Chief Executive Officer of AAC Acoustic says:

"This is an exciting investment for us as it complements our strategy to offer miniaturized optical components and demonstrates our technology investment commitment to expand into the optics solution, adding to our leading position in the acoustics segment."

The deal was signed at a ceremony in Shanghai on 28 June 2010, hosted by Invest in Denmark and the Royal Danish Consulate General at the Nordic Lighthouse with the participation of HRH Crown Prince Frederik of Denmark and Minister of Economics and Commerce Brian Mikkelsen.