Weil Gotshal Helps Grohe Land Majority Stake In Joyou

Law360, New York (March 21, 2013, 5:28 PM EDT) -- Sanitary fittings manufacturer Grohe AG has acquired a majority stake in Chinese bathroom products company Joyou AG, increasing its take in the Chinese company to 72.3 percent, Grohe said in a stock exchange filing Thursday.

Leading Joyou shareholders Jianshe and Jilin Cai will transfer their 7.9 percent direct holdings and 28.6 percent indirect holdings to Grohe in exchange for a stake in the German bathroom services company, according to a filing with the Hamburg Stock Exchange. 

The acquisition more than doubles Grohe's stake in the Quanzhou-based...
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