Schaeffler AG (‘Schaeffler”) will launch a public tender offer for all outstanding shares in Vitesco Technologies Group AG (“Vitesco”).
Schaeffler has arranged a comprehensive financing package of EUR 3,450,000,000 including an acquisition bridge facility and credit lines to refinance liabilities of Vitesco. The financing package is fully underwritten by Bank of America, BNP Paribas and Citigroup. Schaeffler has entered into a non-tender agreement with IHO Holding, the strategic management holding of the Schaeffler family, for its 49.9 percent shareholding in Vitesco.
Hengeler Mueller has advised the financing bank consortium consisting of Bank of America, BNP Paribas and Citigroup.
Hengeler Mueller team for the bank consortium
Financing: Johannes Tieves (lead, partner), Tobias Braun and Tobias Chowdhury (both associates, all Frankfurt),
Corporate/M&A: Lucina Berger (partner, Frankfurt).