Gleiss Lutz has advised Würth Solar GmbH & Co. KG on the sale of major parts of its solar business to listed company BayWa AG. BayWa is taking over the following operations: the activities of Würth Solar in the specialized dealer sector in Germany and Switzerland (SolarMarkt Switzerland), the O&M segment for solar power plants in various countries as well as installation system manufacturer Creotecc with its activities in Germany and the US. The transaction is still subject to merger clearance.
The Würth Group currently consists of over 400 companies in more than 80 countries, with a workforce of over 65,000. In its core business, trade in assembly and fastening material, the Würth Group leads the world market. According to its interim consolidated accounts for the fiscal year 2012, the Würth Group had sales of EUR 9.98 billion. In-house the transaction was handled by Steffen Hertwig, Matthias Briegel and Janina Marek.
Led by Dr. Jochen Tyrolt and Dr. Ralf Morshäuser (both partners, corporate/M&A, Stuttgart and Munich, respectively), the Gleiss Lutz team consisted of the following lawyers, among others: Dr. Martin Viciano Gofferje (counsel, Stuttgart), Dr. Tobias Falkner, Roland Sterr (both Munich), Nico Holtkamp (Stuttgart, all corporate/M&A), Dr. Thomas Winzer (partner), Tobias Abend (both employment, Frankfurt), Dr. Achim Dannecker (partner), Dr. Cindy Lahusen (both tax, Stuttgart), Dr. Alexander Molle (IT, Berlin), Dr. Herwig Lux (counsel), Linda Bittner (both IP, Stuttgart), Dr. Matthias Karl (partner) and Patrick Grüner (both antitrust, Stuttgart).
Gleiss Lutz regularly acts for the Würth Group, advising on many different aspects of business law. For instance, a team headed by Dr. Jochen Tyrolt already advised Würth Solar on the sale of its innovation line for the production of CIGS solar modules to listed company Manz AG.
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