Dentons’ Corporate and M&A team in Prague advised shareholders of VUK, spol. s.r.o. on the sale of their company to global automotive supplier Continental via a share deal. The transaction value was not disclosed.
VUK is a Czech company owned by five families. With history dating back to 1936 when it was a part of the company Baťa, VUK was established as a private company in 1993 and has become a leading Czech designer and manufacturer of tire production machinery.
Based in Germany, Continental Corporation is one of the top five automotive suppliers worldwide.
Dentons provided comprehensive advice to the VUK´s shareholders on legal matters, while Moore Stephens advised them on financial and tax issues. Petr Zákoucký, M&A Partner at Dentons, led the team working on the transaction, supported by associate Vojtěch Novák. In addition, associates Barbora Šafaříková and Michal Pelikan supported the team on corporate matters and Filip Svoboda advised on real estate matters. Moore Stephens’ team was led by Štěpánka Kopecká.
František Kubíček, the former CEO and a shareholder at VUK, commented: “We appreciated Petr’s and Stepanka’s teams’ guidance throughout the process. I believe that their expertise, professional approach and negotiation skills were vital for the success of the transaction. We all worked as one team and we enjoyed this, in particular on this kind of transaction, which happens once in a life time.”
Petr Zákoucký said: “We were delighted to advise VUK´s shareholders on this transaction, helping them with the sale of this successful and steady business to one of the world´s largest tire manufacturers and preserving continuity and further growth of the business as well as job security for existing employees after the sale.”