Homburger advises Oerlikon in the divestment of its Drive Systems Segment

On July 30, Oerlikon (SIX: OERL), a leading technology and engineering group, announced that it has signed an agreement to divest its Drive Systems Segment to Dana Incorporated (NYSE: DAN) for an enterprise value of CHF 600 m, which is approximately the same amount of cash proceeds expected from the sale. The transaction is expected to be closed in late 2018 or the first quarter 2019, subject to customary approvals and closing conditions.

Based on nearly 100 years of experience, Oerlikon Drive Systems is a global leader in providing high-performance gears, market-leading shifting solutions, power transfer units (PTUs), differentials and planetary drives, as well as innovative solutions for hybrids and e-drives.

Homburger acts as global lead counsel to Oerlikon Group in this transaction. The Homburger team is led by partner Daniel Hasler (Corporate / M&A) and includes associates Karin Mattle, and Mario Wälti as well as junior associate Simone Schmid (all Corporate / M&A), partner Dieter Grünblatt and counsel Peter Müller (both Tax), partner Franz Hoffet and junior associate Oliver Dalla Palma (both Competition / Regulatory) and partner Gregor Bühler (IP / IT).