Mutares acquires three German Exteriors plants from Magna
Munich — Automotive supplier Magna has signed an agreement with listed investment company Mutares SE & Co. KGaA (Mutares) to sell three German Exteriors plants. The acquisition comprises Magna’s three sites in Obertshausen, Sulzbach and Idar-Oberstein as well as the two satellite sites in Neckarsulm and Klein-Krotzenburg with a total of 1,700 employees and sales of approximately 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 and generate sales of approximately EUR 360 million. The transaction is expected to close in the third quarter of 2021. The business’s main customers include well-known German automakers. The three plants have extensive design know-how and technically mature in-house development capabilities.
Advisor Magna: Hengeler Mueller
The partners Dr. Daniel Wiegand (Munich), Dr. Peter Weyland (Frankfurt) (both lead, M&A), Dr. Christian Hoefs (Labor Law, Frankfurt), Prof. Dr. Dirk Uwer (Public Commercial Law, Düsseldorf), Dr. Johannes Tieves (Financing, Frankfurt) and Dr. Matthias Scheifele (Tax, Munich), the Counsel Patrick Wilkening (Intellectual Property/IT) and Dr. Moritz Rademacher (Public Commercial Law) (both Düsseldorf) and the Associates Dr. Achim Spengler, Dr. Florian Dendl, Dr. David Negenborn (all Munich), Dr. Nicholas Kubesch (Frankfurt) (all M&A), Dr. Carsten Bormann (Düsseldorf), Simone Terbrack (Berlin) (both Public Commercial Law), Dr. Sarah Milde (Antitrust), Dr. Daniel Engel (Dispute Resolution) (both Munich), Dr. Henning Hilke (Financing), Dr. Sebastian Heinrichs (Tax) and Dr. Andreas Kaletsch (Labor Law) (all Frankfurt).