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Latham & Watkins Advises Modine in Sale of Automotive Business to Dana Incorporated

November 2, 2020
A multidisciplinary deal team led from Chicago is advising the Wisconsin-based diversified global leader in thermal management technology and solutions.

Modine Manufacturing Company (NYSE: MOD or the “Company”), a diversified global leader in thermal management technology and solutions, has announced that it has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business, which represents approximately 70% of its Automotive business revenue. The transaction is expected to close in the first half of 2021, following the receipt of regulatory approvals and other customary closing conditions.

Latham & Watkins LLP represents Modine in the transaction with a corporate deal team led by Chicago partners Christopher Drewry and Mark Gerstein, with associates Daniel Breslin and Cierra Warren. Advice was also provided on antitrust matters by Washington, D.C. partner Mandy Reeves, Frankfurt partner Max Hauser, and Madrid partner José María Jiménez Laiglesia, with associate Brian O’Connell; on intellectual property matters by New York partner Jeffrey Tochner, with associate Pelin Serpin; on tax matters by Chicago partner Rene de Vera, with associate Michael Zucker; on benefits and compensation matters by Chicago partner Robin Struve, with associate Leah Segall; and on real estate matters by Chicago associate Zonia Medina.