Hon Hai Precision Industry Co., Ltd. completed the acquisition of 50% stake in ZF Chassis Modules GmbH from ZF Friedrichshafen AG.
April 29, 2024
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Hon Hai Precision Industry Co., Ltd. (TWSE:2317) agreed to acquire 50% stake in ZF Chassis Modules GmbH from ZF Friedrichshafen AG for an enterprise value of approximately ?1 billion on July 24, 2023. The transaction is subject to regulatory approval. ZF and Foxconn expect the JV agreement to be effective within six to nine months after signing. J.P. Morgan acted as Exclusive Financial Advisor to Foxconn in the transaction. Ralf Morshäuser, Patrick Mossler, Moritz Riesener, Michael Arnold, Tobias Falkner, Jan Philipp Mohr, Antonius Mann, Stephanie Dausinger, Meike Matthias, Michael Knierbein, Maximilian Leisenheimer, Julia Wohlmuth, Silke Hoffmann, Johann Wagner, Markus Günther Jacob von Andreae, Aylin Hoffs, Eva Reudelhuber, Matthias Karl, Philipp Pichler, Daniela Drixler, Jens Günther, Steffen Krieger, Matthias Werner, Sebastian Girschick, Felizitas Casper of Gleiss Lutz acted as legal advisor to ZF Friedrichshafen. Sullivan & Cromwell LLP acted as legal advisor to Foxconn. Rabindra Jhunjhunwala, Moin Ladha, Aman Anand and Nitin Jeswani of Khaitan & Co. acted as a legal advsior for ZF Friedrichshafen AG.
Hon Hai Precision Industry Co., Ltd. (TWSE:2317) completed the acquisition of 50% stake in ZF Chassis Modules GmbH from ZF Friedrichshafen AG on April 30, 2024. The transaction was approved by regulators.
Hon Hai Precision Industry Co Ltd is a Taiwan-based company mainly engaged in the provision of various connectors, housings, radiators, assembled products and related products related to the information industry, communication industry, automation equipment industry, optoelectronics industry, precision machinery industry, automotive industry, and consumer electronics industry, as well as the manufacture and sale of optical and network cable assembly and other products. The Company's products include smartphones, televisions, game consoles, servers, computers, tablets, connectors. The Company operates businesses in domestic and overseas markets.