GLNS advises Grupo Antolín in its USD 525 million acquisition of Magna’s interiors’ business

Grupo Antolín, the major Spanish automotive supplier, has announced the acquisition of Magna’s interiors’ business against payment of a purchase price of USD 525 million. The takeover of 36 production sites with 12,000 employees, who generated a turnover of USD 2.4 billion last year, results in Grupo Antolín becoming the worldwide number 3 in the automotive interiors’ business. The Canadian Magna group, which is one of the biggest players in the automotive sector worldwide, thereby disposes of most of its interiors’ business other than the seating division. The transaction included the production sites of Magna in Germany in Massen, Roitzsch, Straubing, Rastatt, Regenstauf and Munich. A team around partner Francisco Mayor and senior associates Carmen Masa and Pilar Paris from Deloitte Abogados in Madrid coordinated the legal aspects of the transaction on Grupo Antolín’s side. GLNS advised Grupo Antolín on the German law aspects of the transaction. The GLNS team included the partners Dr. Daniel Gubitz, Dr. Ludger Schult, Dr. Reinhard Ege (all Corporate/M&A) as well as Andreas Scheidle (Tax). In addition, a team of WEGNERPARTNER headed by Dr. Timm Theilmann and Thilo Ullrich provided advice on finance, labor, real estate, IP and public law matters. Aderhold Rechtsanwaltsgesellschaft assisted on the tax due diligence with Dr. Steffen Rapp and Stefan Strobl, and Dr. Rainer Velte and Beatrice Stange from Heuking Kühn Luer Wojtek advised on antitrust issues.

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