Gleiss Lutz advised the Dräxlmaier Group on the sale of its decorative design division to holding company mutares AG.
The group’s decorative design segment develops, manufactures and sells automotive interior trim parts. Turnover from this business segment in 2009 was in the higher tens of millions. The divestment will allow the Dräxlmaier Group to focus on its core competencies in future. mutares will be taking over Dräxlmaier’s entire decorative design business covering the sites in Vilsbiburg and Bruchsal (Germany) as well as in Codlea (Romania) along with all of its 1000 employees.
The Dräxlmaier Group, which is headquartered in Vilsbiburg, Southern Germany, has 50 sites in 19 countries worldwide.
Gleiss Lutz provided Dräxlmaier with comprehensive legal advice on the transaction. Gleiss Lutz’ team comprised Dr. Ralf Morshäuser (partner, corporate/M&A, Munich, lead), Dr. Jan Balssen, Dr. Tobias Falkner (both corporate/M&A, Munich), Dr. Michael Marquardt (partner) and Dr. Stefan Mayer (both tax, Frankfurt).
Schönherr Bukarest advised on the Romanian aspects of the deal.
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