Leipzig – Funkwerk AG has sold its entire Enterprise Communication business to Spanish company Teldat S.A., Madrid. The purchase agreement was signed on 18 October 2011 and covers both Funkwerk Enterprise Communications GmbH in Nuremberg and its subsidiaries in Nuremberg, Austria, France and Italy.
A team from CMS Hasche Sigle led by lead partner Eckhart Braun advised Funkwerk AG on all aspects of the cross-border sales process. Support regarding all transnational legal issues was provided by the CMS organisation's Spanish member, law firm CMS Albiñana & Suárez de Lezo.
The transaction is still subject to the customary closing conditions and approval by the bank consortium behind Funkwerk AG. It is expected that the conditions will be satisfied during the 2011 financial year. Inking of the contract marks another milestone in the strategic realignment of Funkwerk AG into the three core areas Traffic & Control Communication, Security Communication, and Automotive Communication, while further stabilising the Group's financial basis.
Advisers CMS Hasche Sigle:
Eckhart Braun, Mergers & Acquisitions, Corporate, Lead Partner
Dr Katja Schönberger, Mergers & Acquisitions, Corporate
Dr Andreas Geist, Mergers & Acquisitions, Corporate
Dr Jörg Lips, Mergers & Acquisitions, Corporate
Dr Katharina Haneke, Corporate
Dr Michael Bauer, Competition
Jan Papsch, Competition
Advisers CMS Albiñana & Suárez de Lezo:
Luis Miguel de Dios Martínez, Corporate
Philipp M. Schönnenbeck, Corporate
