Hamaton Automotive Technology Co.,Ltd. (SZSE:300643), CORE Mainstream Luxemburg S.a.r.l and CORE Mainstream Germany GmbH signed an agreement to acquire Westfalia Metallschlauchtechnik Gmbh & Co. Kg and Westfalia Metallschlauchtechnik Verwaltungs GmbH from Heitkamp & Thumann KG for €43.5 million on April 2, 2019. Under the terms of the transaction, down payment is €2.5 million and should be paid by April 15, 2019. As of April 17, 2019, down payment is €2.5 million is paid before April 15, 2019. The final acquisition price will be adjusted based on the price adjustment mechanism agreed between the parties. Using December 31, 2018 as the effective date, and based on the adjustments made on the base transaction price the transaction price will approximately be €51.05 million. Hamaton Automotive and Core will raise the funds to pay the transaction price through its own funds and bank loans. On April 16, 2019, Hamaton Automotive obtained a binding financing commitment from the Bank of China. The company will use own funds of approximately €25.52 million and bank financing of approximately €25.53 million to pay the transaction price. Stefan Hauk will continue to manage Westfalia Metal Hoses under the new ownership. On May 16, 2019, the parties enter into a first amendment agreement. Under the amendment, the parties agreed to provide the written proof of the financing bank before May 16, 2019 to prove the requirements of the financing bank. The period for which the conditions are to be met was postponed until May 31, 2019. On June 3, 2019, the parties enter into second amendment agreement. Under the amendment, the parties agreed to provide written proof to the financing bank before May 31, 2019. The period for which the required conditions are to be met was postponed until June 7, 2019. Hamaton Automotive sent the Financing Conditions Performance Letter issued by the Bank of China to the counterparties on May 31, 2019 and June 6, 2019 respectively. On July 8, 2019, Board of Directors of Hamaton Automotive Technology Co.,Ltd. approved the transaction in eighth meeting of second Directorate review. The transaction is subject to customary closing conditions, including approval by Board of Directors of Hamaton, approval by the shareholders of Hamaton, transaction needs to be completed and filed with the Zhejiang Provincial Department of Commerce, and the overseas investment certificate issued by the company must be obtained, relevant review (if any) of Germany under the German Foreign Trade and Payments Act and the German Foreign Trade Regulations relevant review (if any) of Germany under the German Foreign Trade and Payments Act and the German Foreign Trade Regulations and review by the US Foreign Investment Committee (if any). The transaction is subject to approval by merger control and other authorities including feedback from the Shenzhen Stock Exchange. As of April 2, 2019, Hamaton Automotive Technology Co., Ltd. directorate meeting approved the transaction. On April 9, 2019, Hamaton Automotive received the Response Letter on the Reorganization issued by Shenzhen Stock Exchange in response to the questions in the reorganization inquiry letter. As of June 17, 2019, Hamaton Automotive has passed the registration procedures of the competent departments of the Zhejiang Provincial Department of Commerce and the Zhejiang Provincial Development and Reform Commission for the transaction. As of July 2, 2019, Hamaton Automotive has passed the registration procedures of the competent departments of the Zhejiang Provincial Department of Commerce and the Zhejiang Provincial Development and Reform Commission. As of August 23, 2019, the shareholders of Hamaton approved the acquisition. The transaction is expected to close by end of October 2019. Hübner Schlösser & Cie served as the financial advisor to the vendor. Chen Wei, Shen Renyang, Huang Kai, Chen Xi, Song JIawei and Feng Jiajia of BOC International (China) Limited acted as financial advisors, Chen Sijia, Lou Jianjiang, Liu Xiuhua of Deheng Law Offices acted as legal advisors, and Wang Hengzhong, Yu Qingqing of Grant Thornton Certified Public Accountants acted as accountants for Hamaton. Hamaton Automotive Technology Co.,Ltd. (SZSE:300643), CORE Mainstream Luxemburg S.a.r.l and CORE Mainstream Germany GmbH completed the acquisition of Westfalia Metallschlauchtechnik Gmbh & Co. Kg and Westfalia Metallschlauchtechnik Verwaltungs GmbH from Heitkamp & Thumann KG on September 30, 2019.