Gleiss Lutz has advised the French group Valeo on its acquisition of FTE automotive, a leading producer of clutch and gear actuators, headquartered in Germany. The purchase price amounts to EUR 819.3 million. Following the acquisition of automotive supplier Peiker, the acquisition of the Spheros Group and the planned joint venture with Siemens, this is the fourth transaction within the last six months that Gleiss Lutz has successfully concluded for Valeo.
FTE automotive is owned by Bain Capital Private Equity. With annual revenue of around EUR 500 million, FTE automotive operates in eight countries worldwide and has 3,700 employees.
The transaction is subject to the approval of the European and Brazilian antitrust authorities.
Valeo employs 82,800 people in 30 countries worldwide and generated sales of EUR 14.5 billion in 2015. Valeo is listed on the Paris stock exchange (Euronext).
Valeo was advised by a Gleiss Lutz team headed up by Dr. Cornelia Topf (lead, partner, Frankfurt) and Dr. Martin Viciano Gofferje (counsel, Berlin) (both corporate/M&A). The team included the following lawyers: Alexander Krüger (Frankfurt), Dr. Hans-Georg Schulze (Berlin) (both corporate/M&A), Dr. Simon Wagner, Anna Karpf (both commercial, Stuttgart), Christian Mathias (employment, Frankfurt), Dr. Manuel Klar (IP/IT, Stuttgart), Dr. Johann Wagner (partner), Dr. Hendrik Marchal (both tax, Hamburg), Konrad Discher (real estate, Berlin) and Dr. Daniel Görlich (public law, Berlin).
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