Italian manufacturer of drive systems retains Luther's Italian Desk for cross-border transaction

Dusseldorf – The Italian manufacturer of drive systems Carraro sold a majority stake in its German subsidiary O&K Antriebstechnik  to  the  Italian  Bonfiglioli  Group,  who  acquired 55%  of  the  shares  at  a  cost  of  EUR  25.7  million.  With  regard  to the  remaining  shares,  the  parties  agreed  upon  options  rights which  may  be  exercised  at  a  later  point  in  time.  In  this  sale, Carraro  relied  on  Luther's  Italian  Desk,  which  brings  around three  decades  of  experience  in  German-Italian  cross-border transactions to the table.

For the time being, Carraro retains a 45 percent stake in the company and continues to play a key role as a partner for the supply of specific components. The  transaction, among others, is still subject to the antitrust approval.

About Carraro

The Carraro Group, which is listed on the Italian stock exchange (Borsa di Milano),  is engaged in the business of developing and manufacturing gear systems and drive   systems for agricultural machinery and construction equipment, and develops solutions  in the area of renewable energies.  The Carraro Group was founded in the 1930's   and currently has approximately  3,600 employees worldwide.  In the last fiscal  year,  it  has  generated  sales  totalling around EUR 728 million worldwide. www.carraro.com

About O&K Antriebstechnik

O&K Antriebstechnik (formerly Orenstein und Koppel) is based in Hattingen and operates in the area of development and production of planetary gears (so-called "epicyclic gears", for example for winches, moving walkways, and escalators) and in the installation, maintenance, service, and repair of these products. O&K was founded over 50 years ago and currently has around 160 employees. For the current fiscal year, sales are expected to reach almost EUR 40 million. www.oundka.com

About Bonfiglioli

The owner-operated Italian Bonfiglioli Group, which also has several German  subsidiaries, is engaged in the construction, manufacture and sale of gearboxes, inverters and  electric motors.  The company, which was founded in 1956, expects worldwide sales to exceed EUR 700 million in 2015 and has a staff of  around 3,500 employees. www.bonfiglioli.com

For the Carraro Group

Luther, Mergers & Acquisitions: Dr Eckart Petzold (Lead,  Partner) Dr Karl von Hase(Partner), Dr Michael Krömker, MBA (Partner), Wolfgang Liebau (Counsel), Julian
Winn (all Dusseldorf)

Luther, Antitrust Law: Dr.Helmut Janssen,LL.M.  (Partner, Dusseldorf/Brussels), Sophie Oberhammer, LL.M. (Dusseldorf)

LMS Studio Legale, Milano/Italy: Tommaso Amirante, Beatrice Gattoni, Annalisa Esposito, Renato Nazzini

For Bonfiglioli

Studio Legale Lucchini Gattamorta e Associati, Bologna/Italy: Pierluigi Lucchini, Claudia Negrini, Gian Vincenzo Lucchini, Gloria Bongiovanni Schmidlin, Clizia Grimaldi, Graziana Dell'Apa