Szabo Kelemen & Partners has advised Magna International on Hungarian aspects of the sale of its interiors operations to Grupo Antolin – a leading global supplier of automotive interior systems – for a total purchase price of approximately USD 525 million. Magna International used Sidley Austin as global advisor and Hengeler Mueller acted as the European Coordinator. Deloite advised Grupo Antolin.
The transaction included 36 manufacturing operations and approximately 12,000 employees located in Europe, North America, and Asia. Full year 2014 total sales for the operations included in the agreement were approximately USD 2.4 billion. A Magna press release stated that neither Magna's seating business nor two joint ventures in China were included in the transaction.
Szabo Kelemen & Partners Managing Partner Tamas Szabo and Attorney-at-Law Judit Suto advised the Magna on Hungarian aspects of the sale.