InterChina Partners, the leading local premium & mid-market investment banking advisor based in China, is pleased to announce the sales of Tecnatom's shares in CITEC to SNPI, a subsidiary of CGN group. The final agreement was signed and closed in Q4 2023.

Tecnatom: is a leading global engineering company specializing in providing service to nuclear sector since 1957. Its primary activities are inspection and structural integrity services, operation personnel training via the use of full-scope simulators and plant operation support engineering. Tecnatom is headquartered in Europe, Spain, and has subsidiaries in 10 countries with 800 employees worldwide. Every year, Tecnatom runs over 250 projects in 42 countries.

Suzhou Nuclear Power Research Institute Co., Ltd., (“SNPI”): is a subsidiary of China General Nuclear (CGN) group. CGN group is the largest nuclear power operator in China, with a focus on the development of clean energies such as nuclear power, nuclear fuel, wind power, and solar power. SNPI is one of the CGNPC Nuclear Power Operation Technology Platforms in China.

CGNPC Inspection Technology Co., Ltd. (“CITEC”): is a company established in Shenzhen in 2007 where Tecnatom has been a key equity stakeholder. CITEC specializes in providing in-service inspection and maintenance service, R&D and technical support to nuclear power stations operated by CGN in China. In 2023, due to global strategic shift, Tecnatom decided to divest its equity stake in CITEC.

"Tecnatom has been a long-term client of InterChina and we are very delighted to have advised Tecnatom on the sale of CITEC to CGN group. Thanks to Tecnatom's technology, CITEC has grown into an important nuclear power operation technology platform in China. This divestment is seamlessly aligned with Tecnatom's global strategy," said Mr. Morcillo. "This transaction also demonstrates InterChina's extensive experience and capability in the divestments of multinational corporations in China and our capability of handling complex negotiations with leading State Owned Enterprise stakeholders."

InterChina's deal team includes Eduardo Morcillo, Managing Partner, and Delia Zhang, Executive Director.

Juan Ortega, General Director in charge of managing this transaction has said "We are delighted with the quality and professionalism, proximity in their attention and efficiency of the InterChina team that has advised us in this transaction. It has certainly been an excellent decision to count on their support and having contributed to the success of this transaction."

InterChina served as Tecnatom's sell-side advisor and provided comprehensive transaction advice. InterChina's advisory included full sell-side services, exit valuation strategy and negotiation of key terms, support on nailing down the definitive agreements and day to day transaction process management.