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Devon D. Archer
646 436 3745

Begin forwarded message:

From: 王昕 <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>>
Date: May 14, 2015 at 11:44:34 PM EDT
To: 'Devon Archer' <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
Cc: 'Sebastian Momtazi' <smomtazi@rosemontcapital.com<mailto:smomtazi@rosemontcapital.com>>, 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>, 'Zhou, Huiping 周惠平' <huiping.zhou@bhrpe.com<mailto:huiping.zhou@bhrpe.com>>, 'Xiang Bo' <xiangbo@bhrpe.com<mailto:xiangbo@bhrpe.com>>
Subject: 答复: 答复: Aleris


Here are some bullet points. Copying team in case they have anything to add:
- merger of Target into SPV (consortium consisting of BHR at 49% and Chinese SOE industrial player at 51%)
- Target Company is a leading auto parts company (top 5 globally, no. 3 in China, no. 2 in North America), produces high-end sealing products
- OEM supply contracts with VW, GM, Daimler, account for 80-85% of its revenue (OEM contracts typically for at least 5 years, customer relationship exceed on average 50 years)
- investment highlights C China growth, high-end product with steady revenue stream
- BHR together with a large Chinese SOE (which has a subsidiary making the same products as Target, currently no. 2 in China market but serves the low-end market), upon merger with Target, China growth potential will be substantial
- Target already has 5 factories in China, with plans to open up a 6th
- Merger agreement signed with Target and SPV formed by BHR and its strategic partner May 8, 2015, closing to take place within 90 days with possibility to extend further but we are confident closing will occur within the initial 90 days
- BHR set up a deal fund for this merger and are in the process of finalisng LPAs / exit strategy most likely to involve listing (injection of Target into SP’s existing listco)


发件人: Devon Archer [mailto:darcher@rosemontcapital.com]
发送时间: Thursday, May 14, 2015 10:19 PM
收件人: 王昕
抄送: Sebastian Momtazi; James Bulger
主题: Re: 答复: Aleris

Ok. Understood. Can you send me an exec summary of the transaction so I can relay the relevant points in a concise matter in conversation.

Devon D. Archer
646 436 3745

On May 14, 2015, at 9:04 AM, 王昕 <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>> wrote:
You can certainly refer to Hanson in conversations (and we encourage it!) but please keep the identity of the strategic player and the target confidential for now.


发件人: Devon Archer [mailto:darcher@rosemontcapital.com]
发送时间: Thursday, May 14, 2015 7:26 PM
收件人: 王昕
抄送: Sebastian Momtazi; James Bulger
主题: Re: Aleris

They've been quiet on our request. I will ping the CFO who we spoke to again today.

Related to our other email exchange on Hanson I would love to be able to message in some way because it will lend credibility to us in the market as a qualified institutional buyer and accelerate some of these stop start conversations.

Devon D. Archer
646 436 3745

On May 14, 2015, at 4:45 AM, 王昕 <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>> wrote:
Any word from Aleris or Oaktree?