ARQIS has advised RENK AG as the target company in connection with the sale of 76% of the shares of RENK AG by Volkswagen Vermögensverwaltungs-GmbH, a subsidiary of Volkswagen AG, to SCUR-Alpha 1138 GmbH (in future: Rebecca BidCo GmbH), a portfolio company of Triton Fonds V, as well as in connection with an upcoming voluntary public takeover offer by SCUR-Alpha 1138 GmbH.
In connection with the sale, RENK AG has concluded an investment agreement with SCUR-Alpha 1138 GmbH, which sets out the essential conditions of the takeover offer as well as the mutual intentions and mutual understanding of the Bidder and RENK AG.
Completion of the transaction is subject to merger control and other regulatory approvals and certain other conditions.
RENK AG is a globally recognized producer of high-quality special gear units for tracked vehicles, industrial applications and shipbuilding as well as of components for propulsion systems and test systems. The company is a global leader in automatic transmissions for heavy tracked vehicles, transmission systems for naval vessels and horizontal slide bearings.
The Triton funds invest in mid-sized companies in the industrial, services, consumer goods and healthcare sectors. The 41 companies currently in Triton’s portfolio have combined sales of around €16,5 billion and around 80,000 employees.
Advisors to RENK AG
ARQIS Rechtsanwälte (Duesseldorf/Munich): Dr. Christof Schneider (Lead; Corporate/M&A), Dr. Andrea Panzer-Heemeier, Dr. Hendrik von Mellenthin (both Labour Law); Associates: Nima Hanifi-Atashgah, Elisabeth Falterer (both Corporate/M&A)
RCAA (Frankfurt am Main): Evelyn Niitväli (Merger Control)
Held Jaguttis (Cologne): Dr. Malte Jaguttis (Public Law)