Gleiss Lutz has advised MAHLE on the sale of its 50% stake in joint venture Behr-Hella Thermocontrol (BHTC) to AUO Corporation. HELLA also sold its 50% stake in BHTC to AUO Corporation. The total deal volume is based on an enterprise value of EUR 600 million, and the transaction remains contingent on approval from the relevant foreign investment control and antitrust authorities.
BHTC, headquartered in Lippstadt, Germany, is a leading player in the field of air conditioning control and specialises in human-machine-interface systems. BHTC currently employs approximately 2,900 people around the world and was established in 1999 as a 50-50 joint venture between MAHLE (formerly Behr) and HELLA.
AUO Corporation is a world-leading innovator in display technologies and solutions that is headquartered in Taiwan and operates across Asia, the United States, and Europe with a global team of 38,000 employees.
At MAHLE, the transaction is being handled by Julia Wagner (Director Corporate Legal Department Automotive) and Jörg Kiefer (General Counsel & Vice President Corporate Legal Department).
A Gleiss Lutz team led by Dr. Jochen Tyrolt (partner) and Johannes Schrägle (Counsel, both M&A, both Stuttgart) advised MAHLE.