Tesla Motors, Inc. (NasdaqGS:TSLA) agreed to acquire Grohmann Engineering GmbH from Deutsche Beteiligungs AG (DB:DBAN) and Klaus Grohmann for $150 million (€135.8 million) in cash on November 6, 2016. Tesla Motors will acquire 74.9% stake from Klaus Grohmann and 25.1% stake in Grohmann Engineering GmbH from Deutsche Beteiligungs in the transaction. Grohmann Engineering will be renamed Tesla Grohmann Automation after the transaction. Grohmann Engineering reported revenues of €123 million in 2015. The transaction is subject to approval of antitrust authorities and is expected to close next year 2017. Tesla Motor's boss Elon Musk gives guarantee that the both production and the staff at the Grohmann will be expanded and no staff cuts will be carried out for at least next 5 years. The Grohmann Engineering GmbH founder Grohmann will remain on the board. Tesla Grohmann Automation will remain in Prüm. Jeffery Perkins, Lars Friemann and Florian Ripperger of Harris Williams & Co. Ltd. acted as financial advisors for Deutsche Beteiligungs AG and Klaus Grohmann. Boris Schilmar, Vanessa Nieporte, Heiko Stoll, Jochen Beyer, Verena Braeckeler-Kogel, Steffen Nguyen-Quang, Martin Gramsch of Simmons & Simmons acted as legal advisors for Deutsche Beteiligungs AG and Klaus Grohmann. Siedek of PwC acted as financial advisor to the sellers. David C. Karp, Ronald C. Chen, Michael J. Adams, Damian G. Didden, Adam J. Shapiro, Rohit A. Nafday, T. Eiko Stange and Sehj Vather of Wachtell, Lipton, Rosen & Katz LLP acted as legal advisors for Tesla Motors, Inc. Ali Sahin of Heuking Kühn Lüer Wojtek acted as legal advisor for Tesla, Inc. Jay Campbell of Adams and Reese, L.L.P. acted as a legal advisor for Deutsche Beteiligungs AG.

Tesla Motors, Inc. (NasdaqGS:TSLA) completed the acquisition of Grohmann Engineering GmbH from Deutsche Beteiligungs AG (DB:DBAN) and Klaus Grohmann on January 3, 2017.