Musat & Asociatii has advised Magna International Inc. on its acquisition of Veoneer's active safety business from private equity firm SSW Partners.
Magna is an automotive industry supplier and a mobility technology company with over 171,000 employees and more than 65 years of expertise.
According to Musat & Asociatii, “the combined business is projected to generate more than $3 billion in sales in 2024. With the completion of this acquisition, Magna further strengthens its active safety business, and it positions Magna as one of a few suppliers equipped to tackle the increasing complexity coming from advanced software, system, and integration challenges by delivering a complete set of offerings to customers. The combined business builds a more comprehensive active safety portfolio across all relevant sensors, central computer systems, and software solutions for Magna in one of the fastest growing market segments in automotive.”
The Musat & Asociatii team included Partner Monia Dobrescu, Managing Associates Madalina Trifan, Dragos Lungu, and Oana Lupu, Senior Associate Cristian Cepesi, and Associate Evelina Stoian.
Musat & Asociatii was unable to provide additional information on the deal.