Hengeler Mueller advises Siemens on Sale of Audiology Solutions business

06. November 2014

Siemens sells its Audiology Solutions business to the Swedish investor EQT and the German entrepreneurial family Strüngmann as co-investor for EUR 2.15 bn plus an earn-out component. Due to the very attractive offer made by the two investors, Siemens has decided not to further pursue preparations for the public listing it announced in May. Siemens will invest EUR 200 m in preferred shares in the equity capital of the audio solutions business and will thereby be able to participate in the future success of the business.

With more than 5,000 employees, Siemens Audiology Solutions achieved a turnover of EUR 693 m and a profit of EUR 145 m before interest, taxes and amortization (EBITA) in the 2014 fiscal year. The division is active at a worldwide level.

Hengeler Mueller advised Siemens on the sale and the preparations for going public. The Hengeler Mueller team was led by partners Hans-Jörg Ziegenhain and Daniel Wiegand (both Corporate/M&A, Munich) and included Steffen Oppenländer (Corporate/M&A, London), Matthias Scheifele (Tax), Nikolaus Vieten (Financing), Wolfgang Groß, Alexander Rang (both Capital Markets) (all Frankfurt), Simon Patrick Link (Corporate) as well as associates Jakub Lorys, Verena Nosch (both Corporate/M&A) (all Munich) and Friederike Kirch-Heim (Tax, Frankfurt).

The Siemens Inhouse Team comprised Sabine Kalbitz and Christian Bindl (both project lead), Christian Bleiweiss, Lars Münch, Michael Schirmer (all Corporate/M&A), Thomas Borm (Financing), Robert Spangler (Tax) Jutta Hänle (Trademark/IP), Holger Hohmann (Antitrust).