23 February 2018

Faurecia acquires Hug Engineering AG



Faurecia, one of the world's largest automotive equipment suppliers, entered into a share purchase agreement with German Group ElringKlinger regarding the 100 percent acquisition of Switzerland-based Hug Engineering AG. The Hug group is a market leader in complete exhaust gas purification systems for engines above 750hp. The acquisition will combine Faurecia's global reach and world leading innovative systems for commercial vehicles with Hug Engineering's systems expertise, and support growth in the high horsepower market as regulations come into force. 

The transaction, which is subject to regulatory approval in some European jurisdictions, is expected to close during the first quarter of 2018. 

Walder Wyss AG acted as Swiss counsel to Faurecia. The team has been led by Urs P. Gnos (Partner, Corporate/M&A) and further included Olivia Feusi (Associate, M&A/Corporate), Janine Corti (Counsel, Tax), Nico Bernhard (Associate, M&A/Corporate), Jenny Süess (Associate, M&A/Corporate), Mirjam Olah (Associate, M&A/Corporate) and Cornelia Gfeller (Notary).

News

News

23 February 2018

Faurecia acquires Hug Engineering AG

Faurecia, one of the world's largest automotive equipment suppliers, entered into a share purchase agreement with German Group ElringKlinger regarding the 100 percent acquisition of Switzerland-based Hug Engineering AG. The Hug group is a market leader in complete exhaust gas purification systems for engines above 750hp. The acquisition will combine Faurecia's global reach and world leading innovative systems for commercial vehicles with Hug Engineering's systems expertise, and support growth in the high horsepower market as regulations come into force. 

The transaction, which is subject to regulatory approval in some European jurisdictions, is expected to close during the first quarter of 2018. 

Walder Wyss AG acted as Swiss counsel to Faurecia. The team has been led by Urs P. Gnos (Partner, Corporate/M&A) and further included Olivia Feusi (Associate, M&A/Corporate), Janine Corti (Counsel, Tax), Nico Bernhard (Associate, M&A/Corporate), Jenny Süess (Associate, M&A/Corporate), Mirjam Olah (Associate, M&A/Corporate) and Cornelia Gfeller (Notary).