Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised ZF Chassis Modules GmbH on the financing of a joint venture with FoxConn.
The financing which is denominated in USD comprises of a term loan facility and a revolving credit facility. In addition to the German ZF Chassis Modules Holding GmbH its subdsidiaries in the USA, Canada and Mexico act as original borrowers. As additional borrowers the subsidiaries in Thailand, South Africa and England will accede to the financing agreement.
The newly established Joint Venture is specialised on axle system assembly. It provides its services to customers worldwide. The Joint Venture acquired the relevant assets for its business operations from ZF Friedrichshafen AG group and financed it with funds utilised under the term loan.
Immediately after the acquisition of such assets, Hon Hai Technology Group (‘Foxconn’) acquired 50% in ZF Chassis Modules GmbH from ZF Friedrichshafen AG.
The Freshfields team was led by Partner Mario Hüther, Principal Associates Andreas Thümmler and Laura Korndörfer and Associate Alexander Bräuer (all Finance Law, Frankfurt) and also included:
Partners: Kyle Lakin and Melissa Raciti-Knapp (both Finance Law, New York), Martin Schiessl (Tax, Frankfurt)
Counsel: Dennis Caracristi (Tax, New York)
Special Counsel English Law: Anouschka Zagorski (Finance Law, Vienna)
Principal Associates: Julia Langner, Hendrik Menzel and Christian Schmidt (all Tax, Frankfurt)
Associates: Hadar Tanne (Finance Law, New York), Anastasiia Zhebel (Finance Law, Vienna)
Trainee Solicitor: Sarah Lang MacDonald (Finance Law, Vienna)
Paralegal: Cavika Prashad (Finance Law, New York)
The Canadian law advice was provided by McCarthy Tétrault LLP and the Mexican law advice by Creel, García-Cuéllar, Aiza y Enriquez, S.C.. The additional borrowers in South Africa and Thailand are being advised by Bowman Gilfillan Inc. bzw. Hunton Andrews Kurth LLP, respectively.
