Gleiss Lutz and its Alliance partners Herbert Smith and Stibbe have advised Mitsubishi Electric Corporation, a listed Japanese electronics company with revenues of approx. USD 36 billion, on its acquisition of the Vincotech group from The Gores Group.
The Vincotech group holding is headquartered in Luxembourg and also has production sites and sales offices in Unterhaching (Germany), Bicske (Hungary), Copenhagen (Denmark), Seoul (Korea) and Shenzhen (China). The Vincotech Group specializes in the development, manufacture and distribution of low power modules (0.5kW to 10kW). Its products are used in controls for electric motors and industrial facilities as well as in devices for the solar power industry. With a global workforce of approx. 530 employees, the company has generated revenues of about EUR 60 million. By acquiring Vincotech, Mitsubishi Electric Corporation seeks to further strengthen its power device business and to complement its low & medium power device technology. The two parties have agreed to maintain secrecy as to the purchase price.
A joint team of lawyers from Gleiss Lutz and Herbert Smith Tokyo had overall responsibility for the project. Associated firm Bán S. Szabó advised on the Hungarian aspects of the deal, while Herbert Smith’s Shanghai office and Stibbe’s newly opened Luxembourg office covered the aspects of Chinese and Luxembourg law, respectively.
Mitsubishi was advised by the following Gleiss Lutz team: Dr. Rainer Loges (partner, corporate/M&A, Munich), Dr. Michael Burian, Dr. Martin Lembke (both corporate/M&A, Stuttgart, all lead), Dr. Hans-Georg Schulze (corporate/M&A, Berlin), Jan Philipp Mohr (corporate/M&A, Frankfurt), Dr. Petra Linsmeier (partner, antitrust, Munich), Dr. Thomas Winzer (partner), Verena Hechenblaikner (both employment, Frankfurt), Dr. Michael Marquardt (partner), Dr. Stefan Mayer (both tax, Frankfurt), Dr. Stefan Weidert (partner), Dr. Alexander Molle, Barbara Klüßendorf (all IP/IT, Berlin) and Dr. Jan Hennig (public law, Berlin).
Herbert Smith’s team included James Robinson (partner), Steven Harwood (both corporate/M&A, Tokyo), Simon Meng (partner) and Lixin Wang (both corporate/M&A, Shanghai). Stibbe’s team consisted of Dirk Leermakers (partner), Laurent Verhavert and Hervé Leclercq (all corporate/M&A, Luxembourg). Dr. Péter S. Szabó (partner) and Dr. David Kiss (both corporate/M&A, Budapest) acted on behalf of Bán, S. Szabó & Partners.
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