Gleiss Lutz advises financial advisor Perella Weinberg in connection with the purchase offer of Pierer Industries to LEONI AG
A Gleiss Lutz team advised Perella Weinberg UK Limited in connection with the purchase offer of Pierer Industrie AG to the shareholders of LEONI AG, listed in the Prime Standard of the Frankfurt Stock Exchange.
On 22 June 2021, Pierer Industrie announced its decision to make a voluntary public offer to purchase up to 3,135,218 LEONI shares (approx. 9.60 percent of the share capital of LEONI AG) at an offer price of EUR 12.50 per share and published the offer document on 30 July 2021. Pierer Industrie thereby intends to increase its existing stake in LEONI AG to up to 24.90 percent.
Perella Weinberg is acting as a financial advisor of LEONI AG. Gleiss Lutz advised Perella Weinberg on takeover law issues and other aspects in connection with the transaction.
LEONI AG is a global provider and leading German manufacturer of wires, cables and wiring systems for energy and data management in the automotive sector and other industries. Worldwide, the LEONI Group has approximately 101,000 employees and an annual turnover of approx. EUR 4.1 billion.
The Pierer Industrie Group is an Austrian industrial group with a focus on the production of "Powered-Two Wheelers" and the automotive high-tech supply sector. Worldwide, the Group currently has around 10,000 employees and an annual group turnover of approx. EUR 2.8 billion.
Perella Weinberg was advised by the following team of Gleiss Lutz lawyers: Dr Christian Cascante (Frankfurt), Dr Jochen Tyrolt (both partners, both lead), Oliver Wolf (both Stuttgart, all Corporate/M&A).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in high-profile deals (both friendly and hostile) – advising buyers, targets or investment banks.