White & Case LLP has advised Faurecia on the deal
Faurecia announced that it had entered into an agreement for the acquisition of 100% of the Swiss company Hug Engineering.
Faurecia is a global leader in clean mobility in the automotive industry. With this acquisition, Hug Engineering will complement the clean mobility business unit with their exhaust gas aftertreatment products for high horsepower engines.
High horsepower engines are used in marine propulsion, power generation, rail, agricultural and other industries. The market for emissions purification systems for these engines is expected to grow rapidly, as regulations come into force which will cover more than 75% of the market – as compared to only 25% today.
Hug Engineering is the market leader in Europe and one of the largest players worldwide. It develops and offers its customers complete systems including manufacturing and assembly. Its key technologies are diesel particulate filters, selective catalytic reduction of NOx and catalytic oxidation.
The closing of this transaction, subject to regulatory approval in some European jurisdictions, is expected to take place during the first quarter of 2018.
The White & Case team which advised on the transaction was co-led by partner Andreas Stilcken (Picrure) and local partner Ingrid Wijnmalen (both Frankfurt), and included partners Bodo Bender (Frankfurt) and Justus Herrlinger (Hamburg), counsel Andreas Klein (Frankfurt) and associates Micha Gersdorf, Tim Bracksiek (both Frankfurt) and Julia Cornelius (Hamburg).
Involved fees earner: Andreas Stilcken – White & Case; Bodo Bender – White & Case; Ingrid Wijnmalen – White & Case; Micha Gersdorf – White & Case; Justus Herrlinger – White & Case; Julia Cornelius – White & Case; Andreas Klein – White & Case; Tim Bracksiek – White & Case;
Law Firms: White & Case;
Clients: Faurecia SA;