Ashurst advised on the JV to manufacture Taiwans first offshore power cables
08 March 2023
08 March 2023
Established in 1966 and listed on Taiwan stock exchange since 1972, Walsin Lihwa is a leading supplier of power cable and wire, stainless steel and other resources and is primarily active in Taiwan. NKT is a leading supplier of power cable solutions, including high-voltage offshore cable systems that are developed and manufactured at NKT's state-of-the-art facilities in Europe. It possesses leading technologies with offshore wind farm practice, and has extensive experience in submarine cable manufacturing, installation and maintenance.
NKT and Walsin have agreed to enter into a joint venture whereby NKT will provide know how and technical support to Walsin for the construction of Taiwan's first subsea power cable factory and Walsin will contribute capital. The technology being transferred from NKT to the joint venture is a new foreign technology for the offshore power cable industry in Taiwan and the JV will be the first manufacturer of such cables in Taiwan.
Lead partner Josh Cole commented, "We are very proud to have worked with Walsin Lihwa on this significant transaction which will make important new technology available in Taiwan and enable the construction of offshore power cables in Taiwan."
The transaction was led by Ashurst's Asia head of corporate transactions Josh Cole, leading a multi-jurisdictional team across the network including in Hong Kong, Singapore, Abu Dhabi and Brussels, with the support from Michelle Phang, Sean Ching, Do Yeon Kim, Jessica Leung, Lisa Hui and Marshall Kwok. Partners Angie Ng and Denis Fosselard advised on the competition aspects of the deal, supported by Adelle Elhosni.