Further to Baker McKenzie’s mandate supporting Tata Autocomp Systems Limited (TACO) with its majority acquisition of Artifex Interior Systems Limited (Artifex) earlier this year, the Firm has advised Tata Autocomp on its acquisition of IAC Group (Slovakia) s.r.o. (IAC Slovakia) through its subsidiary, Artifex.
With revenues of USD 190 million in FY24, IAC Slovakia manufactures automotive interior and exterior components, including door and trim systems, pillars, instrument panels, cockpits, and consoles, for global original equipment manufacturers (OEMs) including Jaguar Land Rover and Volkswagen. With this acquisition, TACO continues to strengthen its presence in Europe's automotive sector.
Completion of this transaction is subject to receipt of relevant regulatory approvals and certain other matters.
The Baker McKenzie team was led by London Corporate Partner, Ash Tiwari, and Senior Associate, Priya Shah, with London Partners, Sue McLean and Natalie Ellerby, leading on the transitional services and IP licensing workstreams respectively.
The wider Baker McKenzie London team included:
- Corporate: Ambrose Teo, Eli Clinton-Davis, Samuel Trevor
- Competition: Luis Gomez, Zareenah Rasool
- Intellectual Property: Lucy Robertson
- Restructuring & Insolvency / Banking: Priyanka Usmani, Matthieu Hucker
- Tax: Matthew Legg, Taras Varava, Fewa Olu-Martins
Co-Head of the M&A Practice Group of Baker McKenzie Prague, Alexandr César, and Senior Associate, Jan Dudík, provided Slovak law advice, together with Slovak law firm, Marek Partners.
Commenting on the transaction, Baker McKenzie London Corporate Partner, Ash Tiwari, said: "We are delighted to have partnered with TACO again to continue supporting their expansion strategy to become the partner of choice for global OEMs. This has been a transaction of significant complexity which has drawn on Baker McKenzie’s cross-specialist expertise across commercial, competition, intellectual property, tax, restructuring and insolvency and banking related matters. We look forward to a successful closing.”