China Renaissance Capital Investment and Estun Automation Co., Ltd (SZSE:002747) proposed to acquire Carl Cloos Schweißtechnik GmbH for approximately €200 million on August 10, 2019. China Renaissance Capital Investment and Estun Automation Co., Ltd (SZSE:002747) agreed to acquire Carl Cloos Schweißtechnik GmbH for approximately €200 million on August 22, 2019. Because of the transaction, Nanjing Dingpai Electrical and Mechanical Technology Co., Ltd. will change its name to Cloos Holding GmbH. The transaction will be funded from a capital increase of CNY 551 million (€69.7 million) in Estun Automation Co., Ltd. The sale of Carl Cloos Schweißtechnik GmbH Cloos’s equity was conducted through competitive bidding. The headquarters of the Cloos Group will remain in Haiger (Hessen) as well as the current management team, the workforce and the foreign subsidiaries will remain unchanged. The transaction is subject to the approval of the relevant authorities. The transaction has been approved by Board of Directors of Estun Automation. All the conditions have been met. Wilhelm Nolting-Hauff, Hang Xu, Vanessa Sousa Höhl, Onur Öztürk, Christine Kaniak, Jeffrey Sun, Stefan Schultes-Schnitzlein, Till Steinvorth, Julius, H. Schradin, André Zimmermann, Felix Schäfer and Robert Weinhold of Orrick Hölters & Elsing acted as legal advisors to Estun Automation. Torsten Janßen, Claus Buhmann, Moritz Tack, Alexander Simbürger, Sabine Holtrup, Andreas Hensel and Sabrina Seidler of Ebner Stolz acted as financial advisor for the shareholders of Carl Cloos Schweißtechnik. Hassan Sohbi of Taylor Wessing acted as legal advisors to shareholders of Carl Cloos Schweißtechnik. CSC Financial Co., Ltd. (SEHK:6066) acted as financial advisor for Estun Automation. Zhong Lun Law Firm and Zhonghui Certified Public Accoutants Co., Ltd. acted as legal advisor and accountant to Estun Automation Co., Ltd respectively.