Noerr advises Luxshare on takeover of ZF Friedrichshafen‘s Global Body Control Systems business

Noerr has advised the electronics manufacturer Luxshare on the financing of the strategic acquisition of ZF Friedrichshafen’s Global Body Control Systems Unit. With this transaction, the group from Hong Kong also took over the product line Radio Frequency Electronics.

More than 6,000 employees work in the Global Body Control Systems Unit and the radio frequency division, which encompass more than 16 locations in eleven countries as well as more than eleven sales and development offices in five countries. Even after the takeover, Luxshare intends to manage the Global Body Control Systems Unit as an independent unit headquartered in Germany. Luxshare has more than 35,000 employees and had sales of about USD 2.1 billion in 2016.

The closing is expected to take place at the end of this year, once the transaction has received approval by antitrust authorities.

A Noerr team under the leadership of Frankfurt partner Sebastian Bock advised Luxshare on the complex financing of the transaction. As lead counsel, Noerr not only provided advice on German, Polish and Czech law, but also coordinated the work of the other international law firms.

Advisor to Luxshare: Noerr LLP

Sebastian Bock (team lead), Dr Tom Beckerhoff (both Financing, Frankfurt), Dr Michaela Engel, Elisabeth Dworschak (both Tax, Munich), Ludomir Biedecki (Warsaw), Barbara Kusak (Prague, both Corporate)

Associates: Nadja Petrow (Financing, Frankfurt), Dr Slawomir Morawski (Warsaw), Milos Temel (Prague, both Corporate)

Other cooperating law firms:

Brazil: Garrigues NBFA; China: AllBright Law Offices; Italy: Legance – Avvocati Associati; Hong Kong: Deacons; Mexico: Garrigues; Spain: Garrigues; UK: Macfarlanes LLP; USA: Butzel Long