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About the partnership between Credit Suisse and Lenovo

Lenovo has been providing NASAs astronauts with their computers since 1995. But despite cornering the market in space, ThinkPads were hard to come by in Brazil.

Lenovo's desire to have a presence in Brazil is understandable. It's already the world's third fastest growing economy. And with the forthcoming World Cup and 2016 Olympics both taking place in this vibrant country, the economy can only continue to grow.

But with taxes on imported electronics as high as 43% compared to 2.75% on locally produced products, Lenovo wasn't in any position to get a foothold in Brazil.

Credit Suisse's solution was radical, but rational. We facilitated Lenovo's acquisition of CCE, Brazil's largest domestic electronics manufacturer.

The deal, completed in September 2012, has benefitted Lenovo, CCE's shareholders and the Brazilian economy. Lenovo has invested $130 million in R&D in Brazil, at the same time that it has gained access to one of the world's fastest growing PC markets.

Even for the company that provides NASA's computers, that's one giant leap.

First large M&A transaction between Chinese and Brazilian technology companies

Lenovo, one of the global leading PC makers. In September 2012, Lenovo announced the acquisition of CCE. CCE is one of the largest domestic manufacturers of consumer electronics in Brazil and has a leading presence in the PC consumer and government sectors. Transaction of high strategic importance for Lenovo. Jan Metzger (Head of APAC TMT) started the relationship with Lenovo in November 2007. Today there is an established and trusted relationship between Lenovo and Credit Suisse, which results in regular interaction with Lenovo top management (CEO and CFO) and working level teams. Lenovo is recognised as a very important client for Credit Suisse globally.

Case Study (PDF)

Video

Dan Stone (Lenovo) and Leonardo Cabral (Credit Suisse) in discussion on the beach 

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About the Lenovo – CCE deal 

Joseph D. Gallagher - Co-Head of Mergers and Acquisitions, Asia Pacific
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