DLA Piper has advised Knorr-Bremse and its subsidiary Knorr-Bremse Systeme fur Nutzfahrzeuge on their EUR 200 million acquisition of a 55% stake in Cojali.
The transaction remains contingent on regulatory approval. Knorr-Bremse is a Frankfurt Stock Exchange-listed braking system and other rail and commercial vehicle systems supplier, with over 100 sites in more than 30 countries. Spanish company Cojali is a technological solutions developer for traditional diagnostics, remote diagnostics, predictive maintenance, and telematics. The company also manufactures commercial vehicle components and has operations in more than 115 countries.
According to DLA Piper, "the founders of Cojali will retain a minority stake in the company and cooperate with Knorr-Bremse to further develop Cojali to a leading diagnostics equipment manufacturer for commercial vehicles."
"With the acquisition, Knorr-Bremse is investing in the growing market for connectivity applications while further developing the group’s own digitalization expertise," the firm added. "Apart from organic growth, Knorr-Bremse pursues bolt-on mergers and acquisitions to access external tech expertise and benefits from growth markets and emerging developments in the transportation industry."
The DLA Piper team was led by Munich-based Partner Gerald Schumann and Madrid-based Partner Joaquin Echanove and included lawyers in Austria, Germany, Spain, and Portugal.
The Knorr-Bremse in-house team was led by Head of Corporate Legal M&A/Antitrust Christian Vornehm.
DLA Piper did not respond to our inquiry on the matter.