Menold Bezler advises on the sale of the business operations
Menold Bezler advised on the sale of the business operations of insolvent company HKR Seuffer Automotive GmbH & Co. KG to a German-Korean bidding consortium, comprising KRAH Unternehmensholding GmbH & Co. KG and HyoSeong Electric Co., Ltd. The transaction also involved the sale of a 50%-holding in a Chinese Joint Venture.
HKR Seuffer Automotive develops and produces innovative power electronics for the automotive sector. HKR, which is part of the Seuffer Group, has been insolvent since February 2019. The sale has set the stage to secure the future of the company. Every one of the approximately 170 jobs at the Kupferzell and Bitterfeld-Wolfen sites is safe. Promising investor negotiations are currently underway for the other companies in the Seuffer Group.
The two buyers, both of whom are active in the automobile industry will be contributing their knowledge of electronic construction components (KRAH) and DC motors (HyoSeong). They are planning to continue the company and in the mid-term to further expand the business. Existing relationships with customers and suppliers will remain in place. The buyers agreed to keep the purchase price strictly confidential. The transaction is expected to be executed on April 1, 2019.
Menold Bezler provided comprehensive legal advice on the sale in the form of a structured M&A-Process and previously oversaw the preceding restructuring process as well as the self-administration of Seuffer Group.
Areas of practice: Mergers & Acquisitions, Real Estate Law, Intellectual Property, Competition, Copyright and Media Law, Employment Law, Insolvency Administration / Administration, Insolvency Law and Restructuring