Clifford Chance advised J.P. Morgan acting as financial advisor and provider of acquisition financing to ZF Friedrichshafen AG in connection with its contemplated acquisition of U.S. automotive supplier WABCO Holdings Inc. The Clifford Chance team advised J.P. Morgan on all issues relating to the financing as well as on takeover aspects of the transaction.
WABCO Holdings Inc. is a US-based automotive industry located in Rochester Hills and with headquarters in Auburn Hills and Brussels and is one of the leading suppliers of electronic brake and vehicle control systems as well as suspension and drive systems. With around 16,000 employees in 40 countries, the company generated sales of around 3.8 billion US dollars in 2017.
ZF Friedrichshafen AG, headquartered in Friedrichshafen, is one of the world's four largest automotive suppliers and one of the world's leading companies in the field of driveline and chassis technology.
The Clifford Chance team for J.P. Morgan comprised partner Bettina Steinhauer, senior associate Adéla Hardmeyer and transaction lawyer Jessica Lang (all Banking & Finance, Frankfurt), partner Christian Vogel and senior associate Maria Luisa Köhler (both Corporate/M&A, Düsseldorf) as well as partner John Healy and counsel Erika Bucci (both Corporate/M&A, New York).