By Dr. Michiel Huizinga King & Wood Mallesons’ Frankfurt Office

huizinga_mIn February 2016, Chengdu Techcent Environment Co Ltd (TC), a Chengdu- based environmental technology company listed on the Shenzhen stock exchange, acquired 100% of shares in German company Bilfinger Water Technologies GmbH (BWT). The transaction took place against the background of a limited auction process