Hengeler Mueller advises Siemens on sale of stake in BSH to Bosch
22. September 2014
Bosch and Siemens have agreed that Robert Bosch GmbH will acquire Siemens’ 50% stake in the joint venture BSH Bosch und Siemens Hausgeräte GmbH (BSH) at a purchase price of EUR3bn. In addition, Siemens and Bosch will each receive from BSH an additional distribution of EUR 250 m before the transaction is completed. The transaction, which still requires regulatory approval, will probably be completed in the first half of calendar year 2015. BSH will then become a wholly owned subsidiary of the Bosch Group. Under the terms of the agreement, BSH will also be allowed to produce and market household appliances under the Siemens brand over the long term.
Hengeler Mueller advised Siemens on the transaction. The Hengeler Mueller team was led by partner Hans-Jörg Ziegenhain and included partners Daniel Wiegand, Simon Patrick Link (all Munich), Steffen Oppenländer (London) (all Corporate/M&A), Thorsten Mäger (Competition, Düsseldorf) and Stefanie Beinert (Tax, Frankfurt) as well as associates Verena Nosch, Benedikt C. Läufer and Georg Heiß (all Corporate/M&A, Munich).