Clifford Chance has advised Siemens AG on the sale of TLT-Turbo GmbH to Power Construction Corporation of China. The parties have agreed not to disclose any details of the purchase price. The transaction is subject to clearance by the relevant authorities.

TLT-Turbo GmbH, based in Zweibrücken, Germany, produces ventilation systems and radial and axial fans for all types of industrial usage. The company currently employs around 340 people across five sites in Germany.

The Clifford Chance team was led by partner Markus Muhs and comprised partner Dr. Nicole Englisch and counsel Gwendolyn Müller (all Corporate, Munich) as well as partner Thorsten Sauerhering (Tax, Frankfurt).