Clifford Chance advised Koninklijke Nedschroef Holding B.V. (“Nedschroef”) on the acquisition of two plants from the insolvent automotive supplier Whitesell Germany GmbH & Co. KG (“Whitesell Germany”) by way of an asset deal. The plants are located in Beckingen and Schrozberg. The sale and acquisition is still subject to merger clearance.
In its four plants in Neuss (North Rhine-Westphalia), Neuwied (Rhineland-Palatinate), Beckingen (Saarland) and Schrozberg (Baden-Wuerttemberg), Whitesell Germany is producing high quality cold formed parts and CNC precision machined components for manufacturers and suppliers in the automotive industry. Whitesell Germany had approximately 1,300 employees in Germany when it filed for insolvency in January 2015. (…)
