King & Wood Mallesons (KWM) and Skadden have acted on BYD Electronic’s USD2.2 billion acquisition of Jabil’s mobility business.
KWM advised BYD Electronic, with international partners Huang Ling and Seagull Song leading the transaction team. The team also received support from corporate international partners Owen Wang and Jason Xu corporate partner Peng Fu, tax partners Liu Bo and Kang Jun, IP international partner Gordon Gao, IP partner Mark Fu, managing partner of regulatory and compliance Susan Ning and regulatory and compliance partner Liu Ting, banking and finance partner Sun Shulin, cross-border dispute resolution international partners Jessica Fei and Du Zhuonan cross-border regulation partners Liu Xinyu and Guo Huan, Hong-Kong based partner Gary Lock and Singapore-based partner Jake Robson.
Skadden, including M&A partners Allison Schneirov, Jonathan Stone and Alexandra McCormack, advised Jabil, one of the world’s largest electronics manufacturing services and solutions providers.
The completion of the transaction is subject to regulatory approvals and other contractual conditions, with an anticipated closing date scheduled for March 2024. Once finalised, BYD Electronic will take over Jabil’s mobility business in Chengdu and Wuxi.
Wang Nianqiang, BYD Electronics executive director, said the acquisition would broaden its smartphone business and mark the beginning of a new cycle of rapid growth.
