Walsin Lihwa Corporation ("Walsin") was advised by global law firm Ashurst on its joint venture with NKT HV Cables AB ("NKT") to manufacture offshore power cables in Taiwan.

Walsin Lihwa, founded in 1966 and listed on the Taiwan stock exchange since 1972, is a leading supplier of power cable and wire, stainless steel, and other resources, primarily in Taiwan. NKT is a leading provider of power cable solutions, including high-voltage offshore cable systems developed and manufactured at NKT's cutting-edge European facilities. It possesses cutting-edge technologies and has extensive experience in submarine cable manufacturing, installation, and maintenance.

NKT and Walsin have agreed to form a joint venture in which NKT will provide know-how and technical assistance to Walsin in order to build Taiwan's first subsea power cable factory, and Walsin will contribute capital. The technology transferred from NKT to the joint venture is a new foreign technology for Taiwan's offshore power cable industry, and the JV will be the country's first manufacturer of such cables.

"We are very proud to have worked with Walsin Lihwa on this significant transaction that will make important new technology available in Taiwan and enable the construction of offshore power cables in Taiwan," said lead partner Josh Cole.

Josh Cole, Ashurst's Asia head of corporate transactions, led a multi-jurisdictional team from Hong Kong, Singapore, Abu Dhabi, and Brussels, with assistance from Michelle Phang, Sean Ching, Do Yeon Kim, Jessica Leung, Lisa Hui, and Marshall Kwok. Adelle Elhosni assisted partners Angie Ng and Denis Fosselard with the deal's competition aspects.