The Prague and Warsaw offices of Noerr have joined the firm's multi-jurisdictional team in advising 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 Radio Frequency Electronics product line.
According to Noerr, "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, including Garrigues NBFA (Brazil); AllBright Law Offices (China); Legance – Avvocati Associati (taly); Deacons (Hong Kong); Garrigues (Mexico and Spain); Macfarlanes (UK); and Butzel Long (USA). Bock's team included Partners Ludomir Biedecki in Warsaw, Barbara Kusak in Prague, Tom Beckerhoff in Frankfurt, and Michaela Engel and Elisabeth Dworschak in Munich, and Associates Slawomir Morawski in Warsaw, Milos Temel in Prague, and Nadja Petrow in Frankfurt.