M&A Team Advises Sinokor Pipe on Acquisition of Carrier
2010.12.17.
Yulchon"s M&A Team advised Sinokor Pipe Co., Ltd. on its acquisition of 80.1% of all shares of Carrier Co., Ltd. (now called Chung-Pyung Carrier Co., Ltd.), the Korean subsidiary of Carrier Corporation and the producer of household and industrial air conditioners. The acquisition was successfully completed on December 17, 2010.
The Yulchon team also advised Auto Tech Corporation (Autech), a Korea Exchange-listed company, on its acquisition of Sinokor Pipe. The transaction was completed on January 3, 2011. As a result, Autech acquired control of Chung-Pyung Carrier through Sinokor Pipe. The successful completion of these transactions gave Autech the momentum to establish an alliance with Carrier Corporation, the world"s leading provider of air conditioning, heating and refrigeration systems.
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