The automotive supplier Magna has entered into an agreement with the listed private equity firm Mutares SE & Co. KGaA (Mutares) on the sale of three German Exteriors sites. The transaction includes the three Magna plants in Obertshausen, Sulzbach and Idar-Oberstein as well as the two satellite sites in Neckarsulm and Klein-Krotzenburg with a total of around 1,700 employees and a turnover of approx. EUR 360 million. The plants produce plastic components such as bumper and exterior trim, radiator grilles and other trim components for leading OEMs in the premium segment. The closing of the transaction is expected in the third quarter of 2021.
Hengeler Mueller advised Magna on the transaction. The team was led by partners Daniel Wiegand (Munich) and Peter Weyland (Frankfurt) (both M&A) and included partners Christian Hoefs (Employment, Frankfurt), Dirk Uwer (Public Law, Düsseldorf), Johannes Tieves (Financing, Frankfurt) and Matthias Scheifele (Tax, Munich), counsel Patrick Wilkening (IP/IT) and Moritz Rademacher (Public Law) (both Düsseldorf) as well as associates Achim Spengler, Florian Dendl, David Negenborn (all Munich), Nicolas Kubesch (Frankfurt) (all M&A), Carsten Bormann (Düsseldorf), Simone Terbrack (Berlin) (both Public Law), Sarah Milde (Antitrust), Daniel Engel (Dispute Resolution) (both Munich), Henning Hilke (Financing), Sebastian Heinrichs (Tax) and Andreas Kaletsch (Employment) (all Frankfurt).