One of the leading firms in India, Phoenix Legal has been retained by Cooper-Standard for its divesture of the Indian rubber fluid transfer and specialty sealing business to Mutares SE & Co. KGaA. The agreement includes approximately 2,500 employees and divestment of its European rubber Fluid Transfer Systems (two manufacturing plants in Poland, one each in Spain and Italy) and all of its India operations (excluding corporate IT development office located in Chennai).
Completion of the divestiture is subject to the consent of the respective antitrust authorities and is expected to be closed by the end of the second quarter 2020.
The advisory team was led by Manjula Chawla (Co-founding partner) and Kripi Kathuria and Chandni Chawla (Principal Associates) of Phoenix Legal. Hogan Lovells handled the European leg of the transaction.
Cooper Standard, headquartered in Northville, Mich., is a leading global supplier of systems and components for the automotive industry. Products include sealing, fuel and brake delivery and fluid transfer systems. Cooper Standard employs approximately 28,000 people globally and operates in 21 countries around the world. For more information, please visit www.cooperstandard.com.