The transaction followed Tower International, Inc.'s announcement in November 2018 that it had signed a Memorandum of Understanding with Financiere SNOP Dunois S.A. in relation to the sale of its European operations, including manufacturing facilities in Belgium, the Czech Republic, Germany, Italy, Poland and Slovakia and offices in Germany and Italy.
BNPP, one of Europe's largest banks, and its many subsidiaries offer a wide range of retail, corporate and investment banking services across Europe, North America, Africa and the Asia/Pacific region.
Financiere SNOP Dunois S.A. engages in the stamping, roll forming, assembly and tooling of automotive parts.
The Prague team consisted of Vladimír Čížek (partner, Prague, corporate/m&a, corporate investigations & crisis management, banking, finance & capital markets); Jiří Marek (attorney-at-law, Prague, corporate/m&a, energy, banking, finance & capital markets); and Natálie Rosová (attorney-at-law, Prague, banking, finance & capital markets, insurance).
Herbert Smith Freehills Paris LLP acted as lead counsel to the banks; Sullivan & Cromwell LLP was lead counsel to the borrower; and BARTHELEMY & PARTNERS, Czech counsel to the Czech subsidiary.