Valeo announced on 18 April 2016 a project to enter into a 50/50 joint venture agreement with Siemens dedicated to high voltage powertrains. Gleiss Lutz advises Valeo on this project.
The joint venture will capitalize on Valeo’s and Siemens’ leading positions in their respective sectors, with the ultimate goal of creating a global leader in the fast-growing market of automotive electrification. The two industry leaders will join forces to offer the most complete and innovative range of high voltage (above 60V) components and systems for passenger cars. Valeo would contribute to the joint venture its worldwide high voltage power electronics business, Siemens its E-Car Powertrain Systems Business Unit. The joint venture will be headquartered in Erlangen, Germany. The project is subject to consultation of the employee representatives and approval by the competent antitrust authorities.
Valeo is 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: Dr. Hans-Georg Schulze (Berlin), Dr. Michael Ilter, Alexander Krüger (both Frankfurt) (all corporate/M&A), Dr. Matthias Sonntag (partner, Düsseldorf), Dr. Björn Kalbfus (Munich), Mischa Krumm (Düsseldorf) (all IP), Dr. Charlotte Beck (counsel, Berlin), Christian Mathias (Frankfurt) (both employment), Dr. Birgit Colbus (counsel, competition/antitrust, Frankfurt), Dr. Johann Wagner (partner), Dr. Jens Wrede (both tax, Hamburg), Dr. Tim Weber (partner real estate, Frankfurt) and Dr. Simon Wagner (commercial law, Stuttgart).
Gleiss Lutz regularly works on high-profile cases in all areas of business law on behalf of well-known national and international companies in the automotive and automotive supplier industry. In the last months Gleiss Lutz already advised Valeo on the acquisition of Spheros as well as of Peiker.
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