Baker McKenzie advised Siemens on the sale of its Commercial Vehicles business to Meritor. As announced, Siemens is thereby consistently continuing to sharpen its portfolio as a focused technology company. Commercial Vehicles is part of the Siemens Portfolio Companies.
The purchase price amounts to approximately EUR 190 million, subject to working capital adjustments. The transaction is subject to the receipt of the relevant regulatory approvals, which are expected to be received by the end of this calendar year.
Baker McKenzie advised Siemens on all legal matters in connection with the transaction.
Siemens Commercial Vehicles is a leading supplier of innovative systems, solutions and products for all types of medium and heavy-duty electric commercial vehicles. With around 200 employees, the business develops, designs and produces high-performance electric drive systems for commercial vehicles such as buses and trucks, construction vehicles and off-road vehicles.
Meritor, Inc. is a leading global provider of driveline, mobility, braking, aftermarket and electric drive solutions for commercial vehicles and industrial markets. With more than 110 years of experience providing innovative products that deliver superior performance, efficiency and reliability, the company serves commercial vehicle, trailer, off-highway, defense, specialty and aftermarket customers around the world.
Baker McKenzie's global Corporate/M&A team advises on more cross-border transactions than any other law firm. Most recently, Baker McKenzie advised Nikkiso on the sale of LEWA GmbH and Geveke B.V. to Atlas Copco, Kerry Group plc on the acquisition of c-LEcta, Celanese on the acquisition of DuPont's Mobility & Materials business, Sika AG on the acquisition of MBCC Group, Advent International on the sale of Allnex Group to PTT Global Chemical, Paragon on the sale of NovumIP to Questel Group, Embracer on the acquisition of Easybrain Limited, and SAP on the sale of its SAP Digital Interconnect communications unit to Sinch AB.
Legal advisor to Siemens:
Corporate/M&A: Jakub Lorys (partner, Munich)
Corporate/M&A: Michelle Karrer (associate, Munich), Johannes Baier (associate, Munich), Stephan Gönczöl (associate, Munich
Tax: Thomas Gierath (partner, Munich), Ariane Schaaf (counsel, Frankfurt am Main)
Employment: Bernhard Trappehl (partner, Munich), Thomas Seidensticker (senior associate, Munich)
Pension: Christian Reichel (partner, Frankfurt am Main)