Hengeler Mueller advises Magna on acquisition of Getrag

Magna International Inc. (“Magna”) today announced that it has signed an agreement to acquire the Getrag Group of Companies ("Getrag"), a leading supplier of automotive transmissions. The purchase price for 100% of the equity of Getrag is approximately EUR 1.75 bn. This represents an enterprise value of approximately EUR 2.45 bn less proportionate net debt and proportionate pension liabilities, which together are estimated to be approximately EUR 700 m at closing. The purchase price is subject to working capital and other customary purchase price adjustments. The transaction is expected to close near the end of 2015, subject to a number of conditions including obtaining all necessary regulatory approvals.

Hengeler Mueller is advising Magna on the transaction. The Hengeler Mueller team is led by partners Peter Weyland and Karsten Schmidt-Hern (both M&A) and includes partners Matthias Scheifele (Tax), Johannes Tieves (Financing), Hans-Joachim Liebers (Labour) (all Frankfurt), Jan D. Bonhage (Public Law, Berlin), counsel Patrick H. Wilkening (IP, Düsseldorf) as well as associates Christin Posdziech, Johannes Baumann, Daniel A. Spitze, Loretta Lang (all M&A), Martin T. Mohr, Lisa Friedsam (both Tax) (all Frankfurt), Carolin Raspé (Public Law, Berlin), Miriam Peter (Financing, Frankfurt), Matthias Rothkopf, Eva Frankenberger (both IP, Düsseldorf), Eckbert Müller and Anne Broll (both Labour, Frankfurt).