Hogan Lovells advises AKASOL AG on merger squeeze-out

Press releases | 03 March 2022

Led by partners Michael Schlitt, Tim Brandi and Lutz Angerer international law firm Hogan Lovells has advised AKASOL AG on the implementation of a merger squeeze-out under the German transformation act (Umwandlungsgesetz).

In the course of the transaction, shares of the minority shareholders of AKASOL were transferred to ABBA BidCo in its capacity as majority shareholder in exchange for an adequate cash compensation in connection with a merger of AKASOL into ABBA BidCo (a so called merger squeeze-out).

As the main shareholder, ABBA BidCo already held a 92.95 percent of the share capital of AKASOL AG prior to the transaction, which it had previously acquired through a voluntary public takeover offer.

AKASOL AG is a leading German developer and manufacturer of high-performance lithium-ion battery systems for a wide range of applications, such as busses, commercial vehicles, rail vehicles, industrial vehicles, marine and stationary applications.

Hogan Lovells previously advised AKASOL AG on its IPO in 2018 and on its acquisition by Borg Warner in 2021.

Hogan Lovells team for AKASOL AG

Frankfurt

Prof. Dr Michael Schlitt (Partner), Dr Tim Oliver Brandi (Partner), Simon Kiefer, Christian Schröder, Leon Lindemann (Associates), (all Corporate and Capital Markets);

Dr Kerstin Neighbour (Partner), Paul Single (Associate) (both Employment);

Prof. Dr. Fabian Pfuhl (Counsel, Intellectual Property);

Munich

Dr. Lutz Angerer (Partner), Thomas Weber (Counsel), (both Corporate);

Dr. Olaf Gärtner (Partner), Björn Handke (Counsel) (both Litigation).

Inhouse AKASOL: Ferdinand Bark