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DORDA advises on the sale of ZKW Group to LG

Friday, 27 April 2018

DORDA under the lead of Andreas Mayr and Christoph Brogyányi advised the shareholders on their sale of ZKW Group to the South Korean listed companies LG Corporation und LG Electronics. The purchase price amounts to EUR 1.1 billion. For LG this is the biggest transaction in the history of the firm. The transaction is conditional upon approval of the competent competition authorities.

Andreas Mayr comments the transaction: "We are very happy that we were able to assist the seller of ZKW Group in connection with the successful signing of this transaction."

ZKW Group is one of the world’s leading innovators and suppliers of premium automotive lighting systems and electronic components with more than 9,000 employees. It is headquartered in Wieselburg, Austria, and maintains production and research facilities inter alia, in Austria, China, the U.S., Slovakia, Czech Republic and Mexico.

LG is a South Korean conglomerate active in the electronic industry as well as in the chemical industry and in the fields of service enterprises and telecommunication. With more than 125 branches worldwide and approximately 250,000 employees, LG Group's turnover in 2017 was approximately 150 billion US dollars.

The seller was advised by DORDA's M&A team under the lead of the corporate partners Andreas Mayr (M&A) and Christoph Brogyányi (corporate) as well as the associates Florian Nikolai (M&A), Clemens Burian (corporate) und Julia Haunold (corporate).

DORDA is a leading law firm in Austria, advising in all areas of business law. In addition to corporate, M&A, real estate and tenancy law, banking and capital markets law, the firm's practice areas comprise insolvency law and restructurings as well as tax law, competition/antitrust law, employment law, public law, data protection, IT, IP and media law. DORDA's automotive practice is considered to be one of the leading ones in Austria. A team of DORDA led by Andreas Mayr has, for example, recently successfully represented Volkswagen in defending against shareholder claims of investors based on alleged ad-hoc violations by Volkswagen in connection with the Diesel matter by obtaining six favourable Austrian Supreme Court decisions.

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