Gleiss Lutz has advised German technology company Freudenberg & Co. KG on the acquisition of Hanns Glass GmbH & Co. KG and its subsidiaries by Japan Vilene Company, a Freudenberg business group. The parties have agreed not to disclose the purchase price. Closing is subject to approval by the competent cartel authorities.
German technology conglomerate Freudenberg is a family-run business which mainly supplies a wide range of technology industries, including the automotive sector, mechanical engineering and the textile, construction and telecommunications industries. The company employs a workforce of approx. 48,000 in over 60 countries worldwide. In 2016 it generated annual turnover of approx. EUR 8.6 billion.
Hanns Glass GmbH & Co. KG, the operational unit of the Hanns Glass Group headquartered in Grafing (Munich), produces textile-based automotive carpets at four production sites. The company is one of the leading firms in this area on the German market and supplies numerous car makers, including Audi, VW, Daimler, BMW and Porsche.
Gleiss Lutz regularly advises Freudenberg on antitrust issues and has now for the first time assisted it with a transaction.
The following team of Gleiss Lutz lawyers, led by Dr. Rainer Loges (partner, corporate/M&A, Munich) advised Freudenberg on the matter: Dr. Markus Braun (corporate/M&A), Dr. Iris Benedikt-Buckenleib (counsel, antitrust), Dr. Matthias Werner (counsel), Dr. Manuel Klar, Sophia Ostler (IP/IT/commercial, all Munich), Frank Schlobach (partner), Dr. Jan-Alexander Lange (both finance), Dr. Tim Weber (partner), Svenja Bender (both reals estate, all Frankfurt), Dr. Jacob von Andreae (partner) as well as Kevin Grimmeiß (both public law, both Düsseldorf).
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