April 17, 2014
The Düsseldorf-based mechanical engineering group GEA Group announces the sale of its Heat Exchangers (HX) Segment to funds advised by Triton. The purchase agreement was signed today. The sale is based on an enterprise value of approx. 1.3 billion euros. The transaction is still subject to the approval of the competent antitrust regulators. Closing of the transaction is expected by the end of the year.
Latham & Watkins advised on the financing of the acquisition with a team lead by London corporate partner Jocelyn Seitzman and finance partner Christopher Hall, with Frankfurt finance partner Christina Ungeheuer, Frankfurt corporate partner Dirk Oberbracht and Munich tax partner Stefan Süss.