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CMS advises listed Finnish company Wärtsilä Corporation on sale of German firm Wärtsilä ELAC Nautik

16/12/2019

Hamburg – Wärtsilä Corporation, a listed Finnish company, has sold Wärtsilä ELAC Nautik GmbH to listed UK firm Cohort plc, which specialises in defence, security and related market segments. The transaction was conducted through the seller’s German subsidiary, Wärtsilä Deutschland GmbH. The parties agreed not to disclose details of the transaction. The deal is expected to be completed at the beginning of 2020, subject to approval under foreign investment control legislation.

A CMS team headed by lead partner Dr Henrik Drinkuth advised Wärtsilä Deutschland on all legal aspects of the deal. Wärtsilä has regularly relied on the expertise of law firms in the CMS organisation since 2005. In 2014, for example, advice was provided by CMS Switzerland on the formation of a joint venture with a Chinese state-owned enterprise.

Headquartered in Kiel, Wärtsilä ELAC Nautik was established in 1924 and has 120 employees. The company is part of listed Finnish company Wärtsilä Corporation and describes itself as a market leader in the development of innovative hydroacoustic products and systems, including sonar solutions, underwater communication systems and echo sounders for the global maritime market.

The Cohort Group was established in 2006 and has been listed on the London Alternative Investment Market since March 2006. The company is based in Reading, Berkshire, UK. It employs a total of around 950 people across its locations in the UK and Portugal.

CMS Germany

Dr Hendrik Drinkuth, Partner
Laura Moosleitner, Senior Associate, both Corporate/M&A
Dr Hermann Müller, Partner
Dr Jan Niklas Gestefeld, Senior Associate,
Jan Gröschel, Associate, all Foreign Investment Control
Dr Heino Büsching, Partner
Dr Isabelle Holly, Counsel, Tax
Dr Andreas Hofelich, Partner
Dr Daniela Rindone, Senior Associate, both Labor, Employment & Pensions
Dr Dennis Heinson, Senior Associate, TMC

Press Contact
presse@cms-hs.com

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