Gleiss Lutz has advised automotive supplier Linamar Corporation on its acquisition of a stake in Seissenschmidt Aktiengesellschaft. In the course of the transaction Linamar will be purchasing 66% of the shares in Seissenschmidt. The transaction is subject to, among other things, clearance by the respective cartel authorities.
Linamar is Canada’s second-largest automotive supplier, with 42 plants and a workforce of some 18,000 worldwide. It posted annual sales of approx. EUR 2.6 billion in 2013. With its precision-manufactured products, Linamar delivers drive solutions for passenger cars, commercial vehicles, off-highway vehicles, as well as the energy and OEM markets. Seissenschmidt looks back on a history of 160 years and is now one of the market leaders in the development and manufacture of precision-engineered components for driveline and chassis technology with approximately 950 employees. Seissenschmidt has locations in Germany, Hungary and the USA. The acquisition is linked to the takeover of Carolina Forge Company, which is taking place at the same time, and is part of Linamar’s global forging strategy.
Gleiss Lutz frequently advises Linamar Corporation on transactions – for example last year on the acquisition of Muhr & Bender’s assembled camshaft business – as well as on general corporate and employment law matters.
Linamar was advised by the following team of Gleiss Lutz lawyers: Peter Steffen Carl (Partner, Munich), Dr. Martin Lembke (Counsel, Stuttgart) (both lead, Corporate Advisory/M&A), Christopher Vogl (Corporate Advisory/M&A, Stuttgart), Dr. Thomas Winzer (Partner), Tobias Abend (both Employment, Frankfurt), Dr. Iris Benedikt-Buckenleib (Competition and Antitrust, Munich) and Dr. Philipp Naab (Counsel, Real Estate, Frankfurt).
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