Eversheds assists Mutares with divestment agreement
Eversheds Sutherland has assited Mutares SE & Co. KGaA with a divest operation with US automotive supplier Cooper Standard Holdings, including a manufacturing facility in Spain
The agreement includes the acquisition by Mutares of certain operations from Cooper Standard including approximately 2,500 employees and two manufacturing facilities in Poland, one manufacturing facility in both Spain and Italy, and all of the Company’s operations in India. This transaction, when closed, will enable the Cooper Standard, leading global supplier of sealing, fuel and brake, and fluid transfer systems for transportation and industrial markets to focus resources on its businesses that provide the greatest opportunity for growth and profitability.
Mutares is a Germany-based holding company that acquires medium-sized companies and parts of groups with headquarters in Europe that are being sold in the course of a repositioning process and show a clear potential for operational improvement.
According to Mutares, the foreseen transaction underlines Mutares Automotive, carve-out and turnaround expertise. This will help both companies to improve in the fields of Sales, Operations and Administration and has also a benefit for Cooper Standard.
Eversheds Sutherland advised Mutares on the deal, led by Munich office with the participation of an international team that included a Madrid office Corporate team formed by partner Carlos Pemán (pictured), of counsel David Williams and associate Laura Varela.