ZF Friedrichshafen AG has successfully completed acquisition of commercial vehicle technology supplier WABCO Holdings on May 29, 2020, according to the press release by ZF Friedrichshafen AG and reports.

The transaction involved ZF acquiring all the outstanding shares of WABCO at $136.50 per share in an all-cash transaction for an equity value of over USD 7 billion, whereas the value of the indirect open offer for acquisition of 25% of the voting share capital of WABCO India stood at approximately USD 438 million.

Shardul Amarchand Mangaldas & Co advised ZF Friedrichshafen AG on the Indian leg of the transaction and was represented by its corporate team, led by partners Raghubir Menon and Anirban Bhattacharya, also comprising principal associate Shiladitya Banerjee and associate Akshita Singal. The securities team, involved in the preparation of the tender offer documents and advising on regulatory nuances in connection with the tender offer, and was led by partner Yogesh Chande and senior associate Kanwardeep Singh Kapany, while the competition team was led by partner Aparna Mehra and included senior associate Ritwik Bhattacharya, associate Neetu Ahlawat, associate Abhiruchi Jhawar, and associate Kshitij Sharma. Strategic inputs were provided by managing partner Pallavi Shroff.

Latham & Watkins acted as the global transaction counsel for ZF Friedrichshafen AG, while Gleiss Lutz represented as the global antitrust counsels.

Skadden Arps acted as the international legal counsels for WABCO in the deal.

Deal value: USD 438 million

2020-05-20

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.