BDA advises AGC on sale of AGC Flat Glass (Dalian) to Shanghai Yaohua Pilkington Glass

BDA Partners is pleased to announce that its client, AGC Inc of Japan, has agreed to sell AGC Flat Glass (Dalian) Inc (“AFD”) to Shanghai Yaohua Pilkington Glass Group Co Ltd (“SYP”).

AFD is a float glass manufacturing company located in Dalian, China specializing in glass manufacturing for the automotive, industrial, and building industries. The company’s wide range of products includes auto Low-E glass, TCO glass, solar CSP glass, and architectural glass.

BDA acted as exclusive financial advisor to AGC on the transaction. AGC was formerly known as Asahi Glass Company.

Jeffrey Wang, Partner, Co-Head BDA Shanghai, added: “This transaction is an excellent outcome for both parties. AGC has operated AFD for 30 years, and we’re proud to have helped our client divest to a strong buyer, committed to the next phase of development. This transaction underscores the trend of multinational companies divesting certain businesses to improve business profitability and asset efficiency in China and Chinese corporates, especially state-owned enterprises (“SOE”), appetite for quality businesses. It reflects BDA’s expertise in advising complex cross-border carve-outs even in the face of Covid disruptions.”

Hideyuki Tozawa, Partner, Co-Head BDA Tokyo, said: “We’re pleased to have supported our long-standing client, AGC, again. This is a testament to our commitment, and the trust we receive from our clients on cross-border transactions.”

Toshiaki Yokohara, Managing Director, BDA Tokyo, said: “This is an example of the increasing willingness of big Japanese companies to divest subsidiaries and assets to improve the profitability and asset efficiency of the business portfolio, and to reallocate those resources to strategic growth areas.”