Gleiss Lutz advised novero GmbH on the purchase of Nokia’s line fit automotive business. novero GmbH was recently founded by Razvan Olosu, the former head of Nokia’s enhancements division, together with a private equity firm.
The transaction will allow approximately 230 employees of the line fit automotive business to continue working in Bochum, Düsseldorf and Detroit (USA), once the Nokia operations there have been discontinued. novero GmbH is planning to expand the main operations in the line fit automotive business in Germany and the USA.
The following Gleiss Lutz team advised on the deal: Dr. Cornelius Götze (partner, lead), Dr. Christian Vocke, Dr. Mario Stillig (all corporate/M&A), Stefan Köhler (tax), Dr. Burkhard Jäkel (partner), Vanessa Bayliss, Maximilian von Rom (all finance), Dr. Beate Erken (employment, all Frankfurt) as well as Dr. Herwig Lux (IP, Stuttgart).
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