Recently, CITIC Dicastal successfully held its restructuring project signing ceremony in Beijing. This restructuring project is the first mixed-ownership reform project in combination with an ESOP that is approved by the Ministry of Finance. In this project, Cedarlake Capital invested in CITIC Dicastal through establishing a special private equity fund, which holds 60% shares of CITIC Dicastal together with six other Chinese and foreign investment institutions and the ESOP such as the China Structural Reform Fund. Llinks acted as the legal counsel of Cedarlake Capital during this project, providing a full range of legal services to Cedarlake Capital, which helped to set up its special private equity fund.
CITIC Dicastal is a global aluminum wheel and light component manufacturer, whose production and sales volume of aluminum wheels has been ranked number one globally for ten consecutive years. It is also ranked 65th amongst the world's top 100 automotive components manufacturers. After the completion of the restructuring, CITIC Dicastal will realize a corporate governance structure and operation management mechanism with diversified equity, market-oriented operations and professional managers. It will secure core employees' long-term interests, aiming to become an internationally competitive global leader in the industry of light automotive components that continuous to innovate.
