Hengeler Mueller advises Rolls-Royce on voluntary takeover offer together with Daimler to shareholders of Tognum AG

09. March 2011

Rolls-Royce and Daimler have announced a takeover offer, by way of a joint venture company, to the shareholders of Tognum AG. Rolls-Royce and Daimler both hold equal stakes in the joint venture company. Daimler will tender, through the takeover offer, its 28.4 % shareholding in Tognum. The offer in the amount of EUR 24 per share values Tognum at above EUR 3 bn and represents a premium of around 30% above the closing price of Tognum shares on Friday, 4 March 2011.

Tognum is a specialty engineering company and a leading manufacturer of engines based in Friedrichshafen, Germany. Rolls-Royce, the UK specialist for aviation and marine engines, and Daimler, the Stuttgart-based car manufacturer, see clear development potential through closer co-operation.

Hengeler Mueller is advising Rolls-Royce on this transaction. The Hengeler Mueller team is led by partners Matthias Hentzen and Andreas Austmann (both Corporate/M&A) and also includes partners Oliver Rieckers, Alexander Nolte (both Corporate/M&A), Markus Röhrig (Competition) and Dirk Uwer (Public Law) as well as associates Attila Oldag, Holger Kleinhenz, Carsten Lammers, Carsten Wettich (all Corporate/M&A), Andreas Breier (Public Law) and Arne Lambrecht (IP) (all Düsseldorf).

In this transaction, Hengeler Mueller is also coordinating advice in other jurisdictions, working together, among others, with Best Friends Bonelli Erede Pappalardo (Italy), Uría Menéndez (Spain) and with De Brauw Blackstone Westbroek (The Netherlands).