Baker McKenzie advised Knorr-Bremse AG on the sale of its 9.2% stake in the listed Swedish company Haldex AB to SAF-Holland SE for a purchase price of approximately EUR 28 million.
Baker McKenzie advised Knorr-Bremse AG on all legal issues in connection with the transaction. The unique aspect of this transaction was the fact that the buyer, seller and target company are all listed companies.
"We were able to advise Knorr-Bremse on all relevant aspects of the various applicable antitrust provisions, Swedish takeover law, relevant contract law as well as strategic issues, thus contributing to the success of this complex transaction," commented Christoph Wolf, partner at Baker McKenzie.
Knorr-Bremse AG is the global market leader for braking systems and other systems for rail and commercial vehicles.
SAF-Holland SE is an automotive supplier and at the same time as announcing the acquisition made a public takeover bid for Haldex, valuing Haldex at approximately EUR 320 million. From SAF-Holland's perspective, the merger, which is still subject to the achievement of a minimum acceptance threshold and antitrust clearance, would fulfill important strategic objectives and lead to the combination of substantial know-how in the area of commercial vehicles.
Most recently, Baker McKenzie advised Siemens on the sale of its Commercial Vehicles business to Meritor, Andera Partners, Evotec and Fund+ on a EUR 60 million Series B financing of Tubulis GmbH, Allecra Therapeutics on an exclusive license and supply agreement with ADVANZ PHARMA, MODAG on a strategic collaboration with Teva, Chord Therapeutics on its sale to Merck KGaA, LSP as lead investor on a EUR 20 million Series A Equity Financing in Innovative Molecules, Numab Therapeutics on a CHF 100 million Cross Over Financing, CatalYm on a EUR 50 million Series B financing led by Vesalius Capital, Casdin Capital on a USD 50 million extension of the Series B Equity Financing in DNA Script, and Chr. Hansen Holding on the acquisition of Jennewein Biotechnologie.
Legal advisor to Knorr-Bremse: Baker McKenzie
Lead: Christoph Wolf (partner, Frankfurt, public M&A), Nicolas Kredel (partner, Dusseldorf, Kartellrecht)
Team: Holger Engelkamp (counsel, Berlin, corporate), Florian Kotman (associate, Dusseldorf, anti-trust); Joakim Falkner, Carl Svernlöv, Henric Roth (all partners, Stockholm), Stefan Balazs (senior associate, Stockholm, all corporate)