Latham & Watkins has advised global water technology company A. O. Smith Corporation on its definitive agreements with CPE, a leading alternative asset manager, under which CPE will acquire an 81% interest in A. O. Smith’s China business. A. O. Smith will retain a 19% interest and enter into a long-term brand licensing agreement.
The total value, including the net present value of the ongoing licensing economics payable to A. O. Smith over the multi-decade period, is expected to exceed US$500 million.
The Latham team was led by Hong Kong partner Frank Sun, with counsel Yao Yang, Beijing counsel Jason Zhao, and Hong Kong associate Yvette Ho. Advice was also provided on data and technology matters by New York partner Jeffrey Tochner, with associates Jamie Eimbinder and Alan Kim; on tax matters by Chicago partner Diana Doyle; on compliance matters by Chicago partner Meredith Monroe, with associates Mary-Grace Rees and C.J. Rydberg; and on finance matters by Hong Kong partner Andrew Bishop, with counsel Ruonan Duan.
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