Continental acquires automotive division from Kathrein
Hanover — Continental AG (Continental) has acquired Kathrein Automotive GmbH (Kathrein Automotive), a leading specialist and manufacturer of automotive antennas. The acquisition also includes the entire workforce of just over 1,000 employees and the eight sites worldwide. The closing of the transaction is still subject to the approval of the relevant antitrust authorities and is scheduled for the first quarter of 2019. Shearman & Sterling advised Continental on this transaction.
Kathrein Automotive is a subsidiary of Kathrein SE with headquarters in Rosenheim. The company employs over 1,000 people at a total of eight sites in Brazil, China, Germany, Mexico, Portugal and the USA.
Continental is a listed German technology company headquartered in Hanover. The company employs approximately 244,000 people at over 400 locations in 61 countries. After many years of successful cooperation, Continental is now taking over Kathrein Automotive GmbH in order to develop its own solutions for intelligent mobility in the future. Powerful and intelligent antennas are the key technology for holistic vehicle networking.
“Powerful and intelligent antennas are the key technology for holistic vehicle networking,” says Helmut Matschi, member of Continental’s Executive Board and head of the Interior division. Continental sees above-average market growth in the area of vehicle antennas. There, the supplier refers to an estimate by analysts Radiant Insights, according to which the market is expected to grow by an average of 6.5 percent annually until 2022.
Advisors to Conatinental AG: Shearman & Sterling
The Shearman & Sterling team was under Lead by partner Dr. Thomas König (Frankfurt‑M&A) included partners Dr. Esther Jansen (Frankfurt-Finance) and Dr. Matthias Weissinger (Frankfurt/Munich-Restructuring), counsel Dr. Anders Kraft (Frankfurt-Tax) and Dr. Mathias Stöcker (Frankfurt-Antitrust) as well as associates Dr. Aliresa Fatemi, Dr. Philipp Jaspers, Evelin Moini, Denise Tayler (all Frankfurt‑M&A), Marion von Grönheim (Frankfurt-Finance) and Dr. Astrid Ruppelt (Frankfurt-Tax). The international team included associates Phoebe Yin (Beijing M&A), Omer K. Hashmi (New York M&A), Benjamin Petersen (Menlo Park Intellectual Property Transactions) and Davide Cavazzana (Rome M&A).
About Shearman & Sterling
Shearman & Sterling is an international law firm with 22 offices in 13 countries and approximately 850 lawyers. In Germany, Shearman & Sterling is represented at the Frankfurt office. The firm is one of the international market leaders in advising on complex cross-border transactions. Worldwide, Shearman & Sterling primarily advises international corporations and large national companies, financial institutions, and large mid-sized companies. For more information, visit www.shearman.com.