Bondoc & Asociatii has advised on Romanian legal aspects of Faurecia’s acquisition of a majority stake in Hella. White & Case and Dentons also advised the buyer and Freshfields advised the target. Hengeler Mueller and Bredin Prat advised former Hella shareholders Hueck and Roepke. Additionally, Hogan Lovells advised Bankhaus Lampe, Herbert Smith assisted Natixis and Societe Generale, and Gleiss Lutz advised Perella Weinberg. On the group of bidders, Clifford Chance advised Mahle and Allen & Overy and Linklaters reportedly advised Knorr Bremse and Plastic Omnium, respectively.
Bankhaus Lampe was a trustee in the sale of the shares, the shareholders of Hella placed blocks of shares with institutional investors through Deutsche Bank and Bankhaus Lampe. Natixis and Societe Generale, as a bank syndicate, launched a public tender cash offer by Faurecia. Perella Weinberg acted as financial advisor to Hella.
The transaction remains contingent on regulatory approval and is expected to be closed by 2022.
As part of the transaction, French automotive equipment supplier Faurecia will acquire the 60% stake from German lighting technology and electronic products developer Hella pool shareholders, corresponding to a total value of all Hella shares of approximately EUR 6.8 billion. In addition, Faurecia has announced a voluntary public tender offer to acquire the remaining Hella shares at an offer price of EUR 60 per share.
"This combination is a unique opportunity to create a global leader in automotive technologies. I am convinced that Faurecia and Hella have an outstanding fit as we share a common vision, values, and culture," commented Faurecia’s Chief Executive officer, Patrick Koller. "By combining the product portfolios and market reach, we will accelerate profitable growth, through innovation, with more electronic and software content and enhanced execution quality. Our financial profile will remain solid, with strong attention paid to sustained cash generation and deleveraging the company."
According to Bondoc & Asociatii, "the combination of Faurecia and Hella will form the 7th largest automotive technology supplier in the world."
The White & Case team included Paris-based Partners Hugues Mathez, Franck De Vita, and Alexandre Jaurett, Counsels Julien Bensaid-Berset and Orion Berg, and Associate Hugo Chevillot, Frankfurt-based Partners Roger Kiem, Sebastian Pitz, Stefan Bressler, Andreas Lischka, Bodo Bender, and Sebastian Stutze, and Associates Agmal Bahrami, Patrick Schoelles, Sina Reck, Mathias Bogusch, Markus Fischer, Gurkan Akbaba, and Heinrich Nemeczek, Brussels-based Partner Jeremie Jourdan and Associates Jan Jeram and Lakovos Sarmas, Washington-based Partners Farhad Jalinous and Karalyn Mildorf and Associate Tim Sensenig, Dusseldorf-based Partners Tilman Kuhn, Mathis Rust, and Thilo Wienke, and Hamburg-based Associates Nico Frehse, Kristin Brugger.
Dentons’ team was lead by Paris-based Partner Philippe Max and consisted of Paris-based Partner Guillaume Kessler and Associate Steeve Jaskierowicz, as well as London-based Partners David Cohen and Will Turner, and Associate Niharika Khimji.
Hengeler Mueller’s team was lead by Dusseldorf-based Partners Thomas B. Paul and Thomas Meurer, and included Dusseldorf-based Partner Dirk Uwer, Senior Associates Christian Jopen, David Annussek, and Carsten Bormann, and Associates Maximilian Hermans, Matthias Marz, and Lech Kopczynski, as well as Frankfurt-based Partners Daniela Boning and Sebastian Heinrichs, Munich-based Partner Matthias Scheifele and Associate Carina Kampf, and Brussels-based Partner Alf-Henrik Bischke.
The Bredin Prat team consisted of Partners Patrick Dziewolski, Jean-Florent Mandelbaum, and Raphaele Courtier, and Associates Nadira Kayouech, Valentin Linares-Cruz, Jean-Baptiste Frantz, and Mathieu Arnault.
Freshfields Bruckhaus Deringer’s team included Partners Christoph H. Seibt, Tobias Klose, and Mario Huther, Counsel Uwe Salaschek, and Associates Arne Krawinkel, Robert Fischer, Jean Mohamed, Julia Forster, Susanne Zimmermann, Alexander Harrer, and Geronimo Benedict.
The Gleiss Lutz team consisted of Stuttgart-based Partner Jochen Tyrolt and Munich-based Lawyer Florian Schorn.
Hogan Lovells’ team included Frankfurt-based Partner Michael Schlitt and Associate Timo Lockemann, and Munich-based Partner Lutz Angerer and Counsel Thomas Weber.
The Herbert Smith Freehills team included Paris-based Partner Eric Fiszelson, Counsel Audrey Lesage, Associates Cecile Alet and Louis Regnard, as well as Frankfurt-based Partners Julius Brandt and Kai Liebrich, and Associate Daniel Osmanovic.
Clifford Chance’s team consisted of Dusseldorf-based Partner Christian Vogel and Counsel Dominik Hess, and Frankfurt-based Partner Bettina Steinhauer and Counsel Simon Reitz.
The Bondoc & Asociatii team was led by Managing Partner Lucian Bondoc and included Partner Raluca Voinescu and Managing Associate Andreea Lungu.