CMS advises Wärtsilä on the sale of its ANCS business to Solix
Hamburg, 07.01.2025 – Wärtsilä Corporation, a listed Finnish company, has sold its Automation, Navigation and Control System (ANCS) business to the Swedish financial investor Solix. ANCS develops, produces and sells marine automation systems, navigation systems and control systems for the maritime industry, generating revenue of almost 200 million euros per year. The object of the sale are shares in various companies in Germany, Italy, Norway, Singapore, the USA and the United Kingdom which are part of the ANCS business. In some cases, assets belonging to the ANCS business will be transferred between signing and closing to newly founded companies which are also being sold.
A CMS team led by Dr Henrik Drinkuth advised Wärtsilä on all legal aspects of the transaction. One challenge in executing the transaction is separating the ANCS business, which is located in various units of Wärtsilä Group, as parts of this process still have to be completed between signing and closing. Wärtsilä has been relying on CMS's expertise for many years.
The transaction is currently still subject to approval under foreign trade law by authorities in various jurisdictions. The transaction value was not disclosed.
Wärtsilä is a listed Finnish group with its headquarters in Helsinki (Finland). The group offers innovative technologies and solutions for the marine and energy markets. The company's focus is on sustainability. The group has over 17,000 employees in more than 70 countries worldwide.
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