Gleiss Lutz advises TRW Automotive on divestment of engine components division to Federal Mogul
Gleiss Lutz has advised U.S. automotive supplier TRW Automotive on the sale of its engine components division to Federal Mogul. The company agreed to sell the business for USD 385 million in September 2014. Closing was announced in early February.
TRW engine components is headquartered in Germany. The division has a workforce of approx. 5,400 at 22 sites in twelve countries around the world. Federal Mogul will integrate the new business into its powertrain division.
Gleiss Lutz advised TRW on all legal aspects of the transaction, working together with TRW’s legal department to coordinate the transaction in all other relevant jurisdictions.
TRW was advised by the following team of Gleiss Lutz lawyers: Dr. Detlef Bauer (lead, partner), Dr. Maximilian von Mangoldt, Dr. Felicia Raub (all corporate/M&A, Frankfurt), Dr. Thomas Winzer (partner), Dr. Tobias Abend (both employment, Frankfurt), Dr. Michael Marquardt (partner), Dr. Michael Betzinger (both tax, Frankfurt), Dr. Philipp Naab (counsel, real estate, Frankfurt), Dr. Roland Hartmannsberger (counsel, public law, Stuttgart).
With a global workforce of 65,000, TRW generated sales of approx. USD 17.5 billion in 2014.