Siemens Aktiengesellschaft (Siemens) has signed an agreement to sell its 50 percent stake in the Valeo Siemens eAutomotive joint venture to Valeo. The joint venture was founded in 2016 with Siemens contributing its eCar powertrain systems business including e-motors and power electronics. The closing of the transaction is expected in July 2022, subject to regulatory approvals.
Hengeler Mueller advised Siemens on the transaction. The team was led by partners Daniel Illhardt (Corporate/M&A) and Hans-Jörg Ziegenhain (M&A) and included partners Matthias Scheifele (Tax) (all Munich), Martin Tasma (Restructuring, Berlin) and Nikolaus Vieten (Financing, Frankfurt), counsel Marius Marx (Tax, Frankfurt) as well as associates Christian Hess, Max Gärtner (both Corporate/M&A, München), Arvid Morawe (Restructuring, Frankfurt) and Isabella Zimmerl (Tax, Munich).
