Orrick advised HANNOVER Finanz in the sale of their minority interest in Astyx Communication & Sensors GmbH to ZF Friedrichshafen AG. At the same time, ZF will take over shares of the foundation shareholders, resulting in ZF’s participation in Astyx to be approximately 45%.
Since 2000, HANNOVER Finanz has accompanied Astyx as equity capital partner. Together with ZF, Astyx will develop the next generation of radar sensors for vehicle manufacturers globally designed with the capability to deliver even more precise images of the short and long-range environment.
Headquartered in Hannover, Germany, and Vienna, Austria, HANNOVER Finanz has been investing in medium-sized businesses in the D/A/CH region for nearly 40 years. Renowned companies such as Fielmann, Rossmann and AIXTRON have realized their growth with HANNOVER Finanz.
Astyx was founded in Ottobrunn near Munich in 1997 as a spin-off of Daimler Benz Aerospace (now Airbus Group) and develops and produces ultrahigh-frequency radar sensors and modules for automotive and other industries.
ZF is a global leader in driveline and chassis technology as well as active and passive safety technology. The company has a global workforce of around 137,000 with approximately 230 locations in some 40 countries.
HANNOVER Finanz was advised by an Orrick team led by Munich-based M&A and Private Equity partners Christoph Brenner, who has advised HANNOVER Finanz for several years, and Fabian von Samson-Himmelstjerna. They were assisted by partners Stefan Schultes-Schnitzlein(Tax, Düsseldorf) and Christian Schröder (IP/IT Data Privacy, Düsseldorf) and associate Markus Schmid (M&A and Private Equity, Munich).