Munich — ZF Fried­richs­ha­fen AG has sold its stake in ASAP Holding GmbH toge­ther with other share­hol­ders to a subsi­diary of the Indian company HCL Tech­no­lo­gies, Inc. sold. ZF was advi­sed on this tran­sac­tion by Gütt Olk Feld­haus. ZF Fried­richs­ha­fen AG acqui­red a 35% stake in ASAP Holding GmbH in 2019.

HCL Tech­no­lo­gies, head­quar­te­red in Noida, India, is a publicly traded global services and consul­ting company with appro­xi­m­ately 220,000 employees and reve­nues of $11.48 billion in fiscal 2022.

ZF is a globally active tech­no­logy group and supplies systems for mobi­lity in passen­ger cars, commer­cial vehic­les, and indus­trial tech­no­logy. In 2022, ZF gene­ra­ted sales of €43.8 billion with appro­xi­m­ately 165,000 employees world­wide. The company is repre­sen­ted at 168 produc­tion sites in 32 countries.

As deal coun­sel, Gütt Olk Feld­haus coor­di­na­ted the sale process from a legal perspec­tive. The tran­sac­tion is subject to regu­la­tory appr­ovals and the satis­fac­tion of other closing conditions.
As a deve­lo­p­ment part­ner for well-known auto­mo­tive manu­fac­tu­r­ers and suppli­ers (OEM), the ASAP Group offers deve­lo­p­ment services in the areas of elec­trics, soft­ware, consul­ting & service, vehicle deve­lo­p­ment and testing.

Legal advi­sors to ZF Fried­richs­ha­fen AG: Gütt Olk Feld­haus, Munich

Dr. Sebas­tian Olk (Part­ner, Corporate/M&A, Lead Part­ner), Thomas Becker, LL.M. (Of Coun­sel, IP/IT/Commercial), Dr. Domi­nik Forst­ner, Dr. Marcel Schmidt (both Senior Asso­cia­tes, Corporate/M&A)

Pusch Wahlig Work­place Law, Munich: Ingo Sappa (Labor Law)

Blom­stein, Berlin: Dr. Max Klasse, Dr. Roland Stein, Dr. Leonard Frei­herr von Rummel, LL.M.; Asso­cia­tes: Vanessa Kassem, LL.M., Jasmin Mayerl (all antitrust/foreign trade law)