Compagnie Plastic Omnium SE completed the acquisition of Varroc Lighting Systems, Inc. from VarrocCorp Holding B.V. for 520 million
October 06, 2022
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Compagnie Plastic Omnium SE (ENXTPA:POM) entered into an agreement to acquire Varroc Lighting Systems, Inc. from VarrocCorp Holding B.V. for 600 million on April 28, 2022. The final completion of the acquisition is subject in particular to obtaining antitrust authorizations and regulatory approvals. The transaction is expected to close in the fourth quarter of 2022.The transaction will be created with accretive EPS expected within 12-24 months post-closing. Pierre Tourres, Anne Wachsmann, Nicolas Zacharie, Cyril Abtan, Géric Clomes, Sonia Cissé, Jonathan Ford, Jan Willem de Boer, Natalie Ellerby, Antonia Sherman, Atif Wolfgang Bhatti, Jean-Charles Jaïs, Ian Karet, Monika Krzyszkowska-Dabrowska, Sushil Jacob, Sima Ostrovsky, Matthew Devey, Martina Farkas, Rory Conway, Federica Barbero, Pierre-Emmanuel Perais, Pauline Debré, Craig Spenner, Vincent Gerlach, Mees Roelofs, Nicolas Zacharie, Paul Kuipers, and Jaap Geleijns of Linklaters LLP acted as legal advisor and SG Corporate & Investment Banking acted as financial advisor to Plastic Omnium. Rothschild & Co SCA (ENXTPA:ROTH) acted as financial advisor for Varroc. Robert Stebbins and Michael Brandt of Willkie Farr & Gallagher LLP acted as legal advisor to VarrocCorp Holding B.V. Rabindra Jhunjhunwala, Roshnek Dhalla, Anisha Chand, Deepak Kumar, Moin Ladha and Shailendra Bhandare of Khaitan & Co. acted as legal advisor to Compagnie Plastic Omnium SE. Khaitan & Co. As on August 3, 2022, The European Commission has cleared Compagnie Plastic Omnium SA's agreement to buy the automotive lighting systems business of Indian peer Varroc, the nod was granted without conditions.
Compagnie Plastic Omnium SE (ENXTPA:POM) completed the acquisition of Varroc Lighting Systems, Inc. from VarrocCorp Holding B.V. for 520 million on October 6, 2022.
OPmobility (formerly Compagnie Plastic Omnium SE) is among the world leaders in innovative solutions for a unique, safer and more sustainable mobility experience. Driven by innovation since its creation, the group designs and produces intelligent exterior systems, complex custom modules, lighting systems, energy storage systems and battery and hydrogen electrification solutions for all mobility players. OPmobility also offers its customers a dedicated software development business, OPn'Soft.
At the end of 2023, the group has 152 plants and 40 R&D centers worldwide.