German tire and car parts maker Continental AG announced that it has agreed to purchase Veyance Technologies from Carlyle Group for $1.9 billion. Veyance produces industrial hoses and belting and has 27 plants around the world.

Continental’s press release can be viewed here.
http://www.continental-corporation.com/www/pressportal_com_en/themes/pr…
 
Squire Sanders advised Veyance in the transaction on Chinese and Australian aspects of the deal. The deal team included partners Campbell Davidson (Sydney), Dan Roules (Beijing) and Michele Connell (Cleveland).