L&W guides Modine´s automotive business sale to Dana

Latham & Watkins has advised Modine Manufacturing Company on the sale of the liquid-cooled portion of its automotive business to Dana Incorporated

Wisconsin-based Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, has announced that it has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business, which represents approximately 70 per cent of its Automotive business revenue. The transaction is expected to close in the first half of 2021, following the receipt of regulatory approvals and other customary closing conditions.

A multidisciplinary Latham & Watkins deal team led from Chicago represented Modine in the transaction, with lawyers from the Chicago, New York, Washington DC, Frankfurt and Madrid offices. The Madrid office team was led by EU & Competition Law partner José María Jiménez-Laiglesia (pictured), assisted by associate Carlos Betoret, from the same practice.