BDA advises AGC on sale of AGC Flat Glass (Dalian) to Shanghai Yaohua Pilkington Glass
Divested AGC Flat Glass 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.”
AGC Flat Glass (Dalian) Inc is a float glass manufacturing company located in Dalian, China. With 30 years of operating history, AFD has deep expertise in glass manufacturing for automotive, industrial, and building industries. Its products include auto Low-E glass, TCO glass, solar CSP glass and architectural glass.
AGC Inc [TYO: 5201], formerly known as Asahi Glass Co Ltd, is the largest glass company in the world. Founded in 1907 and headquartered in Tokyo, Japan, AGC has 200 subsidiaries and 56,000 employees in over 30 countries, operating in four business segments – Glass, Electronics, Chemicals, and Ceramics. As a pioneer of glass production, AGC is recognized for its innovation in sustainable glass products, solutions, and manufacturing. www.agc.com
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. bdapartners.com
Acquired by Edgewater Capital Partners
Divested Doosan Enpure to SKion Water
Divested Niigata fab to Mercuria, Sangyo Sosei, Fukuoka Capital
Divested Doosan Mecatec to a consortium of Bumhan Industries and Metistone
Acquired by Indorama Ventures
Divested Isuzu Glass to Basic Capital Management
Divested Toshiba Transmission & Distribution Europe to Mutares
Acquired NEC Energy Solutions from NEC Corporation
Divested ASG Print to GPA Global and EQT
Divested Doosan E&C to a private equity consortium
Divested Walbro to Landon Capital & Nova Capital
Divested PCI Limited to Celestica Inc
Divested India business to IMC Swarnaa Ventures Pvt Ltd
Divested majority stake in STS Group to Adler Pelzer Group
Divested 100% stake to a leading European water company
Divested 70% stake to SCG Packaging
Established JV with Superior Essex
Divested ThiPha Cable and Dovina to Stark Corporation
Divested Nagano Industry to JAFCO