HONG KONG--(BUSINESS WIRE)--International law firm Sidley Austin LLP has announced that it recently advised Sinotruk (Hong Kong) Limited, one of the largest manufacturers of heavy trucks in China, in its cooperation project with MAN SE, a German industrial group. This transaction, which involved an equity deal and a technology licensing arrangement, was announced, with all definitive agreements signed, on July 15, 2009 and, subsequent to the approval by an extraordinary general meeting of Sinotruk (Hong Kong) Limited, was closed on October 7, 2009.

Upon completion of the transaction, MAN will own an aggregate of 25% plus one share in the capital of Sinotruk (Hong Kong) Limited through the purchase of existing shares from the controlling shareholder of Sinotruk (Hong Kong) Limited and the subscription of notes issued by, and convertible into shares of, Sinotruk (Hong Kong) Limited. Through a licensing arrangement, Sinotruk will obtain certain heavy truck technologies from MAN. The equity portion had a total value of €560 million and the technology portion €85 million.

The Sidley team was led by partner Timothy Li and supported by fellow partner Gloria Lam, both of the Hong Kong office. Assisting Mr. Li and Ms. Lam were Sidley colleagues from the firm’s global network of offices including lawyers in Beijing, Brussels, Chicago, Dallas, New York and Shanghai.

Sinotruk has been a client of Sidley Austin since the firm advised on its initial public offering on the Hong Kong Stock Exchange in 2007. Timothy Li also led the Sidley team on the IPO transaction.

Commenting on the cooperation project with MAN, Mr. Li said,“We are very delighted to have assisted Sinotruk in this important transaction and to have strengthened our existing client relationship with this industry-leader. We look forward to additional ground-breaking developments of our client, Sinotruk, in the market, as a result of the successful implementation of this cooperation project with MAN."

Sidley Austin LLP is one of the world's largest full-service law firms, with approximately 1700 lawyers practicing in 16 U.S. and international cities, including Beijing, Brussels, Frankfurt, Geneva, Hong Kong, London, Shanghai, Singapore, Sydney and Tokyo. Every year since 2003, Sidley has been named to Legal Business’ Global Elite, its designation for firms “that define the pinnacle of the legal profession.” BTI, a Boston-based consulting and research firm, has named Sidley to their Client Service Hall of Fame as one of only two law firms to rank in the Client Service Top 10 for seven years in a row, and to the BTI Power Elite as one of only seven law firms demonstrating the best client relationships for four consecutive years.

Sidley has a global M&A and Private Equity practice comprised of more than 240 lawyers in 16 offices worldwide. We are engaged in the full spectrum of public and private M&A and private equity transactions of all sizes. Our clients include large and small companies, private equity funds and other financial sponsors, boards of directors, special committees, financial advisors and other participants in corporate transactions.

For purposes of the New York State Bar rules, this press release may be considered Attorney Advertising and the headquarters of the firm are Sidley Austin LLP 787 Seventh Avenue, New York, NY 10019, 212.839.5300 and Sidley Austin LLP One South Dearborn, Chicago, IL 60603, 312.853.7000. Prior results described herein do not guarantee a similar outcome.