Zhejiang Sanhua Co Ltd (SZSE:002050) signed an agreement to acquire AWECO Appliance Systems GmbH & Co. KG from Hannover Finanz GmbH and others on November 22, 2012. As part of the deal, Zhejiang Sanhua Co Ltd will also acquire trademark laws, the customer data, patents and factories in Germany, Austria, Poland, China and Slovakia. AWECO will remain its operational independency within the Sanhua Group. For the year ending December 31, 2011, AWECO Appliance Systems GmbH & Co. KG had revenue of €130 million. AWECO will retain its own management team. The employees of the AWECO will become part of the Sanhua team. The transaction is subject to merger control clearance in Poland and Turkey, approval of Chinese State Administration of Foreign Exchange and other customary closing conditions and is expected to close in January 2013.

Christoph von Einem and Florian Hirschmann of White & Case, Feddersen and Peter Winkler of Eisenberger & Herzog Rechtsanwalts GmbH acted as legal advisors for Zhejiang Sanhua. Klaus Bader, Lynn Yang, Piotr Strawa, Matthias Nordmann, Nicolas Daamen, Sebastian Frech, Hye Sook Cho, Armin Fary, Hengliang Shen and Christoph Zieger of Norton Rose LLP acted as legal advisors for AWECO Appliance Systems GmbH & Co. KG. KPMG Germany acted as financial advisor for AWECO Appliance Systems.