Shearman & Sterling advised the Allgaier Group on the financing of the sale of a majority stake to Westron Group and on a comprehensive restructuring of their financial liabilities.
The Hundt family and Allgaier Werke GmbH are transferring 88.9% of their shares to the Westron Group. In connection with the transaction, the Westron Group contributed additional equity to Allgaier Werke GmbH, thus strengthening the financial stability of the Allgaier Group.
The Allgaier Group is a systems supplier to the international automotive industry. Based in Uhingen, Germany, it is known for developing standard and custom solutions for the process technology engineering industry. The company employs 1,700 people.
The Westron Group is a Shanghai-based industry group investing in companies that provide advanced solutions in the automotive and technology sector.