UST, a global technology transformation company headquartered in California, has signed an agreement to acquire a majority stake in Italdesign Giugiaro S.p.A., a historic automotive design and engineering firm that has helped shape the industry’s history.
The current shareholder of Italdesign, Automobili Lamborghini — part of the Audi Group — will retain an equity interest.
The Audi Group will remain a long-term strategic partner of Italdesign, ensuring continuity and collaboration in the areas that have defined the company’s reputation for over five decades.
The transaction creates a strong partnership that combines UST’s expertise in automotive engineering, artificial intelligence, software-defined vehicle development and digital ecosystem design, with Italdesign’s deep knowledge in vehicle and industrial product design and engineering, prototyping, small-series production, and automotive electronics.
Together, the companies will be able to offer a comprehensive and integrated portfolio of services — from initial concept and design through hardware and software development to production systems — to support the development of modern, digitally advanced vehicles.
UST and Italdesign also intend to extend this integrated approach on a global scale. UST will enable Italdesign to expand its international presence through UST’s global network in more than 30 countries.
Completion of the transaction is subject to regulatory approvals.
Baker McKenzie assisted UST with a team led by Partner Paolo Ghiglione, supported by Partner Anna Marina De Vivo and Associate Giacomo Lamperti, who handled the corporate aspects of the transaction. The London team was led by UST relationship partner, Ash Tiwari, with support from Senior Associate Niraj Visani and associate Ambrose Teo.
The Baker McKenzie team also included Senior Counsel Alessia Raimondo and Associate Nicolò Crespi for employment matters, Associate Francesca Montefusco for real estate, and Counsel Antonio Lattanzio for regulatory issues. Counsel Philipp Schuett and associate Hannah Mack managed the German law aspects.
London corporate partner, Ash Tiwari, commented on the transaction: "It was fantastic to support UST on this exciting and important transaction which will enable the combined business to support the development of fully modern, digitally enabled vehicles and to extend this integrated approach to a global scale. We look forward to partnering with the UST team again.”
Linklaters advised the Audi Group