TRW/ZF Merger - Gleiss Lutz advises on multi billion cross border transaction in the automotive sector
U.S. listed TRW Automotive Holdings Corp. („TRW“) and Germany based ZF Friedrichshafen AG (“ZF”) have entered into a definitive agreement under which ZF will acquire all outstanding shares of TRW in an all-cash transaction valued at approximately US$ 13.5 billion. After closing, TRW is to become a business division of ZF. The transaction will create a global automotive group in the supplier business with pro forma combined sales of approximately EUR 30 billion and 138,000 employees. The closing of the transaction is subject to certain conditions such as approval by the TRW stockholders, the receipt of the regulatory approvals and further customary closing conditions. The transaction is expected to close in the first half of 2015.
TRW was advised by the following team of Gleiss Lutz: Dr. Christian Cascante, Dr. Jochen Tyrolt (both lead partners, Corporate/M&A, Stuttgart,), Dr. Wolfgang Bosch (partner, Frankfurt), Christian von Köckritz (both Competition/Antitrust, Brussels), Dr. Adrian Bingel, Johannes Schrägle, Nico Holtkamp, Lucie von Haller, Dr. Markus Martin (all Corporate/M&A, Stuttgart), Dr. Thomas Winzer (partner, Employment, Frankfurt), Prof. Dr. Gerhard Röder (partner, Employment, Stuttgart), Dr. Johann Wagner (partner, Tax, Hamburg), Dr. Stephan Wilske (partner, Dispute Resolution, Stuttgart).
Gleiss Lutz advised together with a team from Simpson Thacher, New York.