Gleiss Lutz has advised Austrian automotive supplier Polytec Holding AG on the takeover of its German competitor Peguform from Cerberus Capital Management Ltd. Closing is subject to approval by regulatory authorities.
Peguform is one of the leading manufacturers of systems and modules for car interiors and exteriors in Europe and employs approx. 7,000 people. In fiscal 2007 its group sales amounted to approx. EUR 1.4 billion. Polytec’s latest acquisition has enhanced its global positioning, adding new sites in Mexico, Brazil and joint ventures in China, Portugal and Spain. As a result of the acquisition Polytec advances – according to its own statements – to the top 100 suppliers of the automotive industry worldwide with combined annual sales of 2.2 billion EUR.
Polytec was advised by the following team of Gleiss Lutz lawyers: Dr. Wolfgang Bosch and Dr. Detlef Bauer (both corporate, M&A, both partners, joint lead, Frankfurt).
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