Continental Aktiengesellschaft (DB:CON) completed the acquisition of Kathrein Automotive Gmbh from Kathrein Se.
February 01, 2019
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Continental Aktiengesellschaft (DB:CON) signed a purchase agreement to acquire Kathrein Automotive Gmbh from Kathrein Se on October 29, 2018. Post completion, Kathrein Automotive's all employees will join Continental Aktiengesellschaft. The transaction required antitrust approval and expected to complete in first quarter of 2019. As on February 4, 2019, the approval from the antitrust authorities was obtained. Rothschild GmbH acted as financial advisor to Kathrein Se. Oliver von Rosenberg, Andrea Zimmermann, Ursula Lier, Kerstin Goeck, Katja Kuck, Katharina Landes, Adalbert Rödding, Holger Dann, Martin Stockhausen, Christian Bürger and Marcus Richter of Gorg acted as legal advisors to Kathrein Se. Thomas König, Esther Jansen, Matthias Weissinger, Anders Kraft, Mathias Stöcker, Aliresa Fatemi, Philipp Jaspers, Evelin Moini, Denise Tayler, Marion von Grönheim, Astrid Ruppelt, Phoebe Yin, Omer Hashmi, Benjamin Petersen, Davide Cavazzana of Shearman & Sterling LLP acted as legal advisors to Continental Aktiengesellschaft. Rainer Thum of maat Rechtsanwälte acted as legal advisor to Continental Aktiengesellschaft. Peter Hoegen, Fatih Coskun, Christopher Kranz and Antonia Wolf of Allen & Overy LLP acted as legal advisors to Kathrein Se. Christian Sistermann of Freshfields Bruckhaus Deringer acted as legal advisor to Kathrein Se. Michelle de Souza, Christine Ameling and Thomas Lang acted as in-house advisors to Continental. Mike Tschirschwitz acted as in house advisor to Kathrein. BNP Paribas Niederlassung Frankfurt acted as a financial advisor for Kathrein Se.
Continental Aktiengesellschaft (DB:CON) completed the acquisition of Kathrein Automotive Gmbh from Kathrein Se for approximately €150 million on February 1, 2019.
Continental AG specializes in the design, manufacturing, and marketing of tires and automotive equipment. Net sales break down by family of products as follows:
- automotive systems (49%): basic brakes (No. 1 worldwide), electronic braking circuits (No. 2 worldwide), chassis components, control systems, etc.;
- tires (33.4%): automobile, motorcycle, light, industrial and farm trucks tires, etc.;
- technical elastomers (17.6%): products made of rubber (belts, tubing, and hoses), plastic materials for the automotive, railroad, mining, and similar industries.
Net sales are distributed geographically as follows: Germany (19.1%), Europe (29.4%), North America (26.6%), Asia (20.7%) and others (4.2%).