Luther supports Carraro in the sale of shares in O&K Antriebstechnik to Bonfiglioli

The Italian manufacturer of drive systems Carraro sold a majority stake in its German subsidiary O&K Antriebstechnik to the Italian Bonfiglioli Group, who acquired 55% of the shares at a cost of EUR 25.7 million. With regard to the remaining shares, the parties agreed upon options rights which may be exercised at a later point in time. In this sale, Carraro relied on Luther's Italian Desk, which brings around three decades of experience in German-Italian cross-border transactions to the table.

For the time being, Carraro retains a 45 percent stake in the company and continues to play a key role as a partner for the supply of specific components. The transaction, among others, is still subject to the antitrust approval.

About Carraro

The Carraro Group, which is listed on the Italian stock exchange (Borsa di Milano), is engaged in the business of developing and manufacturing gear systems and drive systems for agricultural machinery and construction equipment, and develops solutions in the area of renewable energies. The Carraro Group was founded in the 1930's and currently has approximately 3,600 employees worldwide. In the last fiscal year, it has generated sales totalling around EUR 728 million worldwide. www.carraro.com

About O&K Antriebstechnik

O&K Antriebstechnik (formerly Orenstein und Koppel) is based in Hattingen and operates in the area of development and production of planetary gears (so-called "epicyclic gears", for example for winches, moving walkways, and escalators) and in the installation, maintenance, service, and repair of these products. O&K was founded over 50 years ago and currently has around 160 employees. For the current fiscal year, sales are expected to reach almost EUR 40 million. www.oundka.com

About Bonfiglioli

The owner-operated Italian Bonfiglioli Group, which also has several German subsidiaries, is engaged in the construction, manufacture and sale of gearboxes, inverters and electric motors. The company, which was founded in 1956, expects worldwide sales to exceed EUR 700 million in 2015 and has a staff of around 3,500 employees. www.bonfiglioli.com

For the Carraro Group

Luther, Mergers & Acquisitions: Dr Eckart Petzold (Lead, Partner) Dr Karl von Hase (Partner), Dr Michael Krömker, MBA (Partner), Wolfgang Liebau (Counsel), Julian Winn (all Dusseldorf)

Luther, Antitrust Law: Anne Caroline Wegner, LL.M. (Partner), Sophie Oberhammer, LL.M. (all Dusseldorf), Dr. Helmut Janssen, LL.M. (Partner, Dusseldorf/Brussels)

LMS Studio Legale, Milano/Italy: Tommaso Amirante, Beatrice Gattoni, Annalisa Esposito, Renato Nazzini

For Bonfiglioli

Studio Legale Lucchini Gattamorta e Associati, Bologna/Italy: Pierluigi Lucchini, Claudia Negrini, Gian Vincenzo Lucchini, Gloria Bongiovanni Schmidlin, Clizia Grimaldi, Graziana Dell'Apa

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