Noerr advises SAF-HOLLAND on €300m takeover offer for Swedish commercial vehicle component supplier Haldex

Under the lead of our Frankfurt partner Holger Alfes, Noerr has advised SAF-HOLLAND SE on its voluntary public takeover offer for the listed Swedish group Haldex.

SAF-HOLLAND is a leading international manufacturer of chassis-related assemblies and components for trailers, trucks and buses. Its product range includes items such as axle and suspension systems, fifth wheels and coupling systems for trucks, trailers and semi-trailers. SAF-HOLLAND is headquartered in Bessenbach, Germany and runs 22 production sites on six continents.

Haldex AB (publ) is a leading manufacturer of brake systems and air suspension solutions for commercial vehicles and employs approximately 2,000 people in 19 countries. Haldex’s shares are admitted to trading on Nasdaq Stockholm. SAF-HOLLAND is offering SEK 66 in cash per share in Haldex. This offer represents a premium of approximately 65% to the volume-weighted average price of Haldex shares during the three months preceding the announcement of the offer. The Board of Directors of Haldex recommends that the shareholders of Haldex accept the offer. The transaction is worth approximately €300 million.

With their highly complementary business activities, SAF-HOLLAND and Haldex can become an integrated group for chassis-related commercial vehicle systems, offering a majority of key components from a single source. The combined group would also be able to drive forward transformation in the industry and address megatrends such as electrification, digitalisation and automated driving with intelligent system solutions. 

The transaction is subject to clearance by the merger control authorities.

SAF-HOLLAND regularly relies on Noerr’s legal advice, for example on its change in legal form to an SE and the transfer of its registered seat from Luxembourg to Germany, as well as on international corporate acquisitions and financing transactions.

Advisors to SAF-HOLLAND SE: Noerr Partnergesellschaft mbB

Lead: Holger Alfes (partner, Capital Markets/M&A, Frankfurt)

Banking & Finance
Nikolai Warneke (partner), Alexander Schilling (partner)
Martina Buller (senior associate), Sokorei Omar (associate, all Frankfurt)

Capital Markets
Stephan Schulz (partner), Jörg-Peter Kraack (associated partner, both Hamburg)
Sebastian de Schmidt (counsel, Frankfurt)

Data Privacy
Julian Monschke (senior associate, Frankfurt)

Antitrust & Competition
Kathrin Westermann (partner), Sebastian Wrobel, Lucas Gasser (both senior associates, all Berlin)
Jerzy Kapitańczuk (associate, Warsaw)

Tax
Michaela Engel (partner, Elisabeth Dworschak (associated partner, both Munich)