Schoenherr has advised Toyota Motor Europe on the acquisition of Austrian marketing and sales company Toyota Frey Austria from the Frey Holding GmbH. Schindler Attorneys advised the sellers on the deal.
Under an agreement signed on December 20, 2018, Frey Holding and Toyota Motor Europe (TME) agreed that TME will take full ownership and management of Toyota Frey Austria (TFA). Following Austrian merger control clearance, the transaction was closed on February 28, 2019.
TFA is now a subsidiary of TME and will operate under the name Toyota Austria. Toyota Frey Retail will retain ownership and operational responsibility for the seven Toyota and two Lexus dealerships it currently owns in Austria.
TME oversees the wholesale and marketing of Toyota and Lexus vehicles, parts and accessories, and Toyota’s European manufacturing and engineering operations. Toyota’s operations in Europe are supported by a network of 29 national marketing and sales companies across 53 countries, a total of around 3,000 sales outlets, and nine manufacturing plants.
The Schoenherr team consisted of Partners Christian Herbst and Volker Weiss, Counsel Maximilian Lang, Attorneys Teresa Waidmann and Constantin Benes, and Associates Sara Khalil and Nina Zafoschnig.
The Schindler Attorneys’ core team was led by Partners Clemens Philipp Schindler and Florian Cvak and included Partners Martin Abram and Barbara Klinger and Counsels Lars Glaser und Julia Kusznier.