HAVEL & PARTNERS advised the client on the sale of 100% of its shareholding in KLEIN automotive. The company, which has so far been owned by Czech owners through the investment fund K-Invest, is now being acquired by the global company MAGNA Automotive Europe. The acquisition is the largest investment in the industry this year.

The client was advised on the sale by the firm’s specialised M&A team consisting of partner Václav Audes, senior associate Silvie Király and legal assistant Filip Pavlík.

KLEIN automotive, a Czech company with a manufacturing plant in Štíty, specialises in the manufacture and supply of car bodies and other automotive components and employs around 500 people. The Canadian MAGNA Group is one of the world’s largest automotive suppliers. It focuses on the manufacture and supply of automotive systems, assemblies, modules, and components for original equipment manufacturers of passenger cars and light commercial vehicles. It has a total of 347 manufacturing sites and 87 development, engineering, and sales centres in 28 countries around the world. It employs nearly 160,000 people.

The merger between MAGNA Automotive Europe and KLEIN automotive was also subject to approval by the Office for the Protection of Competition. The latter has already approved the transaction in a simplified procedure.