GCR Awards 2021: ZF Friedrichshafen/WABCO named “Merger Control Matter of the Year – APAC”
ZF Friedrichshafen's acquisition of the commercial vehicle supplier WABCO is the “Merger Control Matter of the Year – Asia-Pacific, Middle East and Africa". The title was awarded by the respected international news service and specialist publishers Global Competition Review (GCR) at their 2021 awards.
On 23 January 2020, a Gleiss Lutz team of lawyers led by antitrust partner Dr. Matthias Karl procured EU Commission approval of ZF Friedrichshafen's acquisition of WABCO. The phase 1 approval in Europe was issued, without any requirements or conditions, after intensive preliminary proceedings that lasted several months.
As lead counsel working together with a team of international law firms, Gleiss Lutz was responsible for the merger control proceedings in all other relevant jurisdictions. Time-intensive and complex procedures were conducted in India and China in particular. After all competent public authorities gave their approval, the acquisition was successfully completed in May 2020. The purchase price for WABCO was around seven billion US dollars.
Gleiss Lutz’s team consisted of: Dr. Matthias Karl (partner, lead), Dr. Philipp Pichler (counsel), Patrick Grüner (counsel), Dr. Johannes Hertfelder (partner), Rhued Gaiser, Alexandra Bruch, Daniela Drixler, Dr. Lukas Aberle, Dr. Juliane Langguth (all Stuttgart), Kristina Winkelmann (Brussels, all competition/antitrust)
Gleiss Lutz's Competition/Antitrust practice, which currently comprises twelve partners and more than 50 lawyers, has played a role in the key proceedings and developments in competition and antitrust law for more than 60 years. Thanks to this extensive experience and expertise, it is internationally recognised as one of the leading practices in Germany and Europe.