Latham & Watkins and Milbank assisted Flender in securing merger control clearance for its acquisition of Moventas.
Only two months after an agreement on the takeover was signed, the German Federal Cartel Office cleared the transaction as part of a Phase 1 review.
The integration of Moventas’ engineering and service capabilities will further advance Flender’s business in wind power drives under the successful Winergy product brand.
Moventas headquartered in Jyväskylä, Finland, is a renewable energy technology expert with 40 years of experience in wind turbine’s gearbox design, manufacturing and service. Its predecessors Metso Drives and Valmet have manufactured industrial gearboxes since the 1940’s, and Moventas was among the first companies to extend the gearbox expertise into wind turbine gearboxes
Flender headquartered in Bocholt, Germany, is a leading global supplier for mechanical and electrical drive systems and has the reputation for highest performance, innovation, quality, and reliability of drive components for more than 120 years. Flender offers a broad variety of gear units, couplings and generators and associated services, with a focus on key industries such as wind power, cement, mining, oil & gas, power generation, water and wastewater, marine, conveyor and crane technology.
In advising Flender on the acquisition of Moventas, Latham worked closely with Flender’s Group General Counsel, Daniel Mehari.
The Latham team was led by Frankfurt partner Max Hauser (Picture) and Brussels partner Luca Crocco, with Brussels associate Robert Benditz and Frankfurt associates Alisia Haber and Helena Hofmann.
The Milbank deal team was led by Global Corporate partners Andrej Wolf and Alexander Rinne with support from special counsel Andrea Eggenstein and associates Sarah Ullathorne, Kate Meils, Mahmood Kawany, Lewis Whiteoak and Frank Pensabene. The team also had assistance from European Leverage Finance partner Miko Bradford and associates Pranahita Srinivas and Michael Gatter, Tax partner Rolf Fueger, special counsel Andrew Callaghan and associate Fareed Muhammed, Global Project Energy and Infrastructure associate Jakub Danek and Litigation associate Javier Ramos.
Involved fees earner: Robert Benditz – Latham & Watkins; Luca Crocco – Latham & Watkins; Alisia Maria Haber – Latham & Watkins; Sebastian Max Hauser – Latham & Watkins; Helena Hofmann – Latham & Watkins; Miko Bradford – Milbank LLP; Andrew Callaghan – Milbank LLP; Andrea Eggenstein – Milbank LLP; Rolf Füger – Milbank LLP; Michael Gatter – Milbank LLP; Mahmood Kawany – Milbank LLP; Kate Meils – Milbank LLP; Fareed Muhammed – Milbank LLP; Frank Pensabene – Milbank LLP; Javier Ramos – Milbank LLP; Alexander Rinne – Milbank LLP; Sarah Ullathorne – Milbank LLP; Lewis Whiteoak – Milbank LLP; Andrej Wolf – Milbank LLP;