Recently, Linyi Lingong Machinery Group Co., Ltd. (“LGMG Group”), together with Shenzhen Leading Capital Management Co., Ltd. (“Leading Capital”), successfully completed the acquisition of a 70% equity interest in Shandong Lingong Construction Machinery Co., Ltd. (“SDLG”) previously held by Aktiebolaget Volvo (“Volvo”).

The antitrust team led by Dr. Xu Mingyan, Senior Partner at Landing Law Offices, provided comprehensive antitrust legal services throughout the transaction — including cross-jurisdictional competition analysis, negotiation of core transaction terms, antitrust filing for merger control, and transitional compliance guidance — ensuring the successful completion of this landmark strategic acquisition.

Project Highlights

• Large Transaction Value and Complex Structure:
  The deal involved a substantial transaction amount and a highly intricate deal structure.
• Cross-Jurisdictional Antitrust Analysis:
  The team assessed merger control filing obligations in dozens of foreign jurisdictions, ensuring full global compliance of the transaction.
• Participation in Core Term Negotiations:
  The team was deeply involved in structuring and negotiating key commercial terms. Through strategic negotiation, the lawyers optimized the closing schedule and significantly reduced the reverse breakup fee, thereby effectively mitigating the client’s transaction risk and improving deal certainty.
• Accurate Filing and Expedited Clearance:
  The team prepared the filing documents with precision and responded promptly to authority inquiries. The entire process — from submission to approval — was completed in just 19 working days, providing strong assurance for the smooth progress of the transaction.

Statement from Dr. Xu Mingyan

“Our team has developed distinctive expertise and deep experience in antitrust advisory for cross-border transactions, laying a solid foundation for leading Chinese enterprises to expand globally.

This project was both high in value and complex in structure. In addition to multi-jurisdictional merger filing assessments, it involved challenging negotiations on control arrangements, closing deadlines, and breakup fees. Despite the complexity, our team secured approval from China’s antitrust authority within only 19 working days — a remarkable achievement — while also helping the client optimize key commercial terms, reduce transaction risk, and enhance deal certainty.”

Company Profiles

LGMG Group:
A leading Chinese manufacturer specializing in advanced intelligent manufacturing, providing products such as mining and quarrying equipment, aerial work platforms, specialized machinery, and integrated engineering machinery.

Volvo:
A global enterprise engaged in the production and sale of on-road and off-road trucks, buses, construction equipment, and marine, industrial, and powertrain engines.