Hengeler Mueller advises Mubea on Joint Venture with Somboon Advance Technology
03. August 2017
Mubea Engineering AG and Somboon Advance Technology (“SAT”) have signed an agreement on the establishment of a joint venture. Through the joint venture company, which is yet to be founded, the parties intend to cooperate in the development, production, marketing, sale distribution and supply of coil springs, stabilizer bars and leaf springs, predominantly in the ASEAN-region. The joint venture agreement dated 27 July 2017 inter alia provides that Bangkok Spring Industrial Co., Ltd., an affiliated company of SAT, will transfer large parts of its assets to the joint venture company. The establishment of the joint venture company and the consumption of the other transactions contemplated by the joint venture agreement are subject to the necessary antitrust approvals.
The Mubea-group is an international market leader in the development and manufacture of automobile products with unique features that reduce vehicle weights and help protect the environment by lowering CO2 emissions. The Mubea-group generates EUR 2 bn turnover with 12,000 employees worldwide at 36 production, sales and development sites.
SAT is a Thailand-based company engaged in the manufacture and distribution of motor vehicle parts and is listed at Bangkok Stock Exchange.
Hengeler Mueller advised the Mubea-group as lead transaction counsel on the transaction. The Hengeler Mueller team was led by partner Jens Wenzel (Corporate/M&A, Berlin) and included partner Alf-Henrik Bischke (Antitrust, Düsseldorf), counsel Fabian Seip (IP/IT, Berlin) and Mathias Link (Tax, Frankfurt) as well as associates Martin Tasma, Marvin Vesper-Gräske, David Huthmacher (all Corporate/M&A, Berlin), Philipp Otto Neideck, Anja Balitzki (both Antitrust, Düsseldorf) and Marius Marx (Tax, Frankfurt).
Blumenthal Richter & Sumet (Bangkok) advised on Thai law aspects of the Transaction.