Gentherm Europe GmbH has finalized the squeeze-out of the minority shareholders of W.E.T. Automotive Systems AG on October 30, 2013 upon entry of the squeeze-out decision into the commercial register with jurisdiction over W.E.T. of the Munich Local Court. The transfer of the shares of the minority shareholders of W.E.T. to Gentherm Europe GmbH as main shareholder has taken effect against payment of an adequate consideration in cash.
As previously on the acquisition of W.E.T., the international law firm Milbank, Tweed, Hadley & McCloy LLP advised Gentherm (formerly operating under Amerigon) with regard to all corporate aspects of the transaction.
Gentherm Europe GmbH with its seat in Augsburg, Germany, is a wholly owned subsidiary of Gentherm, Inc., Northville, Michigan, USA. Gentherm and W.E.T. are global automotive companies and leaders in the field of thermal seat comfort.
Gentherm Europe GmbH was advised on the transaction by partners Dr. Ulrike Friese-Dormann (Corporate Law/M&A, Munich) and Dr. Peter Memminger (Corporate Law/M&A, Frankfurt) as well as associate Malte Krohn (Corporate Law/M&A, Munich).
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank focuses its worldwide legal services in the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
