MAGNA on Acquisition of Telemotive AG
We advised MAGNA Automotive Holding (Germany) GmbH on its acquisition of Telemotive AG. The transaction is subject to antitrust approval. The parties anticipate closing in Q2 2016.
Telemotive AG is an automotive electronics development service, offering electronic services from connectivity, human machine interface and infotainment at five German locations with approximately 600 employees. Sellers are the founders and the company's management. Both parties agreed not to disclose the purchase price.
"Our client wants to strengthen its profile in electronic solutions with this acquisition and thus continue to play a leading role in the shift from mechanical to the growing electronic systems. In this transaction our broad legal expertise once again proved itself in the interest of our client MAGNA,"comments Dr. Florian Kästle, corporate partner at Baker & McKenzie.
The Corporate / M&A team of Baker & McKenzie regularly advises on cross-border transactions and restructuring. Most recently , e.g., Baker & McKenzie provided advice to RWE and E.ON on the sale of its minority holdings in Luxembourg energy provider Enovos, the Deutsche Beteiligungs AG on its acquisition of a substantial minority interest in mageba AG, HITACHI KOKI on its acquisition of the power tool specialist Metabo AG, Barry-Wehmiller Group on the acquisition of Winkler+Dünnebier GmbH, ZF Friedrichshafen AG on the acquisition of the industrial and wind turbine business of Bosch Rexroth AG, Group Le Duff on the acquisition of Kamps, Telefónica/E-Plus on the sale of yourfone to Drillisch, Flowserve Corporation on the acquisition of the SIHI Group, and Hochtief on the sale of the property management business to vincitag and the offshore business to GeoSea.
Baker & McKenzie Team
Corporate/M&A: Dr. Florian Kästle (partner, Frankfurt)
Corporate/M&A: Dr. Christian Vocke (partner), Matthias Schudlo (associate, both Frankfurt)
IP: Dr. Benjamin Koch (partner), Philip Schmitz (associate, both Munich)
Arbeitsrecht: Dr. Matthias Köhler (associate, Berlin)
IT: Tim Schwarz (associate, Munich)
Trade & Commerce: Dr. Johannes Teichmann (partner, Frankfurt)
Public Law: Dr. Janet Butler (counsel, Berlin) as well as further lawyers in Germany and France