CMS advises Michelin in the acquisition of a minority stake in A.T.U (Auto-Teile-Unger)
Michelin, world leading tire manufacturer, has entered into a partnership with Mobivia, the European leader in multi-brand vehicle servicing and parts, which has led to the acquisition by Michelin of a 20% minority stake in German operator A.T.U for a total amount of € 60 million. A.T.U, German automotive services provider, operates a network of 577 car centres in Germany, 25 in Austria and 6 in Switzerland. A.T.U became part of the Mobivia group in December 2016. The transaction is subject to merger clearance in Germany and Austria.
CMS Switzerland (Pascal Favre, Lead Partner, assisted by Audrey Durand and Jérôme Levrat) and CMS Germany (Oliver Wolfgramm, Partner and Relationship Partner, assisted by Navid Anderson) advised Michelin on the corporate and M&A aspects of the transaction.
CMS also acted as joint advisor of both parties on antitrust matters: coordination of antitrust work has been performed by CMS France (Claire Vannini, Partner, assisted by Marine Devulder) and also involved CMS Germany (Stefan Lehr and Heinz-Joachim Freund, Partners), CMS Austria (Dieter Zandler, Bernt Elsner, Partners) and CMS Switzerland.