Gleiss Lutz with Siemens on sale of part of business in China

Gleiss Lutz has advised Siemens AG on the sale of its wiring accessories business in China to Swiss engineering group ABB.

Siemens’ wiring accessories business in China generated more than USD 150 million in sales in 2023 and comprises switches, smart home systems, door communications and other peripheral products, which will initially continue to be sold under license under the Siemens brand. The transaction is structured as a mixed share and asset deal and is subject to the usual regulatory approvals.

The transaction was handled by an in-house Siemens legal team comprising Juan Carlos Moreno (PICTURED, LEFT), Nicole Röttinger (both M&A), Tatiana Levina, Christoph Eberhard Braun (both IP), Hubert Klinger (antitrust), Xenia Eickhoff-Kley (carve-out) and Katrin Lange (finance).

The following Gleiss Lutz team advised Siemens AG: Dr. Ralf Morshäuser (partner), Dr. Tobias Falkner (counsel, both M&A, both lead and PICTURED, CENTER and RIGHT), Dr. Moritz Lochmann, Tobias Zorn (both M&A, Munich), Dr. Steffen Krieger (partner, Employment, Düsseldorf), Dr. Christian Steinle (partner), Dr. Juliane Langguth (both Competition/Antitrust, Stuttgart), Dr. Alexander Molle (partner), Jan Hinrichs (both IP/Tech, Berlin), Dr. Stefan Mayer (partner), Dr. Leonhard Kornwachs (both Tax, Frankfurt).

Law firm JunHe advised on Chinese law.

Gleiss Lutz recently advised Siemens on its acquisition of ebm-pabst’s industrial drive technology (IDT) business.