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Announced

Schaeffler to acquire the remaining 50.1% stake in Vitesco Technologies for €1.9bn.

Financials

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Transaction Value£1,645m
Consideration TypeCash
Capital Owned50%
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium24.8%
One Off Charge-

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Domestic

Public

Pending

Germany

Auto Services

automotive supplier

Acquisition

Majority

Tender Offer

Friendly

Single Bidder

Synopsis

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Schaeffler, a German manufacturer of rolling element bearings for automotive, aerospace and industrial uses, agreed to acquire the remaining 50.1% stake in Vitesco Technologies, a German automotive supplier for drivetrain and powertrain technologies, for €1.9bn. "With the launch of the tender offer today, we are initiating a transformative move for Schaeffler. By combining Schaeffler and Vitesco, we will build a leading Motion Technology Company with four focused ‘pure-play’ divisions, a balanced well-diversified portfolio, and critical scale across its businesses. This includes a best-in-class e-mobility champion with significant growth potential. The combination will make Schaeffler and Vitesco stronger together and is beneficial for customers, employees, shareholders and business partners," Klaus Rosenfeld, Schaeffler CEO. On November 27, 2023, the offer was raised from €91 to €94 per share.

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