Hengeler Mueller advises Leoni on sale of electrical appliance assemblies business to BizLink, Taiwan
10. January 2017
Leoni, a leading provider of cables and cable systems to the automotive sector and other industries, will sell its business activities with cable assemblies and harnesses for household appliances and power tools. Today, the signing of the sales and purchase agreement with the acquirer BizLink, a leading provider of interconnect solutions listed in Taiwan with headquarters in Fremont, California, has taken place. The enterprise value amounts to EUR 50 m. The sold division has locations in Germany, Belgium, Slovakia, Serbia and China. The agreement is subject to customary closing conditions. The transaction is expected to close at the end of the first half year 2017. Hengeler Mueller advised Leoni on the transaction.
The Hengeler Mueller team included partners Daniel Wiegand (M&A), Simon Patrick Link (Corporate) (both Munich), Changfeng Tu (M&A, Shanghai), Matthias Scheifele (Tax, Frankfurt), Markus Röhrig (Antitrust, Brussels) as well as associates Jakub Lorys, Georg Heiß, Christian Winkler (all M&A, Munich), Claudia Nees (Tax, Frankfurt), Malcolm Tiffin-Richards (Antitrust, Brussels) and Anja Balitzki (Antitrust, Düsseldorf).