Gleiss Lutz has advised the Supervisory Board of Volkswagen Group AG (Volkswagen) on the exclusive agreement entered into with Bain Capital for the sale of its majority stake of 51 percent of the shares in Everllence.
The envisaged transaction in the form of a leveraged buy-out generates proceeds of approx. 7.4 billion euros for Volkswagen and is subject to the completion of the information and consultation processes with employee representation bodies required by law in France and the other conditions and approvals required by the regulatory authorities. The aim is for these conditions, including regulatory approvals, to be met by the end of 2026.
Further information can be found in the press release issued by Volkswagen AG:
Key step towards streamlining investment portfolio: Volkswagen Group enters into exclusive arrangement with Bain Capital for sale of majority stake in Everllence | Volkswagen Group
The following Gleiss Lutz team led by Prof. Dr. Michael Arnold, Dr. Gabriele Roßkopf and Dr. Adrian Bingel (all Partners, Corporate Law, Stuttgart) advised the Supervisory Board of Volkswagen AG:
Dr. Ralf Morshäuser (Partner, M&A, Munich), Dr. Nicholas Brand (Stuttgart), Dr. Johannes A. Hieronymi (Counsel, Frankfurt), Dr. Matthias Gärtner (Counsel, Düsseldorf), Christian Schröder (Frankfurt), Marvin Palumbo (Stuttgart, all Corporate Law), Prof. Dr. Christian Arnold (Partner), Dr. Jonas B. Hofer (both Employment Law, Stuttgart), Franz-Ferdinand Guggenmos (M&A, Munich), Florian Schorn (Corporate Law, Munich), Dr. Alexander Werder (Partner), Dr. Niklas Woitok (both Tax Law, Stuttgart).
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