On December 31, S&C client Foxconn Interconnect Technology Limited, a Hong Kong-listed company and a member of Foxconn Technology Group, agreed to acquire from Prettl Produktions Holdings GmbH and Trilantic Europe all equity interests in Prettl SWH for cash consideration of €186.6 million (subject to adjustment).
Prettl SWH, incorporated in Germany, is principally engaged in the business of the design and assembly of cable and wiring solutions for the automotive and broader mobility industry. It has assisted its customers in developing and manufacturing best-in-class high-end automotive sensor harnesses as well as connectivity and electrification solutions. Its customer base spans traditional automotive OEMs and new mobility OEMs as well as global large-scale Tier 1 and Tier 2 automotive system suppliers. The acquisition represents part of Foxconn’s strategy to tap into the automotive industry.
The S&C team advising Foxconn Interconnect Technology includes Ching-Yang Lin and Shirley Mak in Hong Kong, and York Schnorbus, Lars Rueve, Daniel Roggenkemper, Zin Nakam and Katharina Leonhardt in Frankfurt. Juan Rodriguez advised on antitrust matters. Mehdi Ansari and Jay Thornton advised on intellectual property matters. Eric Kadel advised on CFIUS matters.