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HERBERT SMITH FREEHILLS ADVISES NINGBO JIFENG MAJORITY SHAREHOLDER WANG ON SUCCESSFUL GRAMMER TAKEOVER BID

29 August 2018 | Germany
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Global law firm Herbert Smith Freehills advised the Wang family on the acquisition of Grammer AG. The deal over the German automotive supplier Grammer thus comes to an end after more than one year of negotiations. The Wang family, majority shareholder of the internationally active Chinese automotive supplier Ningbo Jifeng Auto Parts Co. acquires a majority shareholding in Grammer via its German acquisition company, Jiye Auto Parts GmbH.

The extended acceptance period ended on August 23, 2018, and the Wangs achieved a total shareholding of 84.23 percent, including their original shareholding of 25.56 percent. The total participation is thus above both the lowered acceptance threshold of 36 percent and the original acceptance threshold of 50 percent.

A team of Herbert Smith Freehills led by partners Dr. Markus Lauer and Dr. Ralf Thaeter advised the Wang familiy and Ningbo Jifeng Auto Parts Co. on all aspects of the transaction. To read more, please click here.

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Friederike Hartmann, Head of Business Development Germany

Germany
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