Successful with Heuking – Kohl Automotive succeeds in obtaining protective shield reorganization in self-administration with shareholder support
A team from Heuking’s Munich office led by Partner Prof. Dr. Georg Streit legally supported the shareholders relating to Kohl Automotive group’s protective shield reorganization in self-administration. The shareholder’s options review with the company on December 6, 2022 was followed by the decision to submit to protective shield proceedings.
The shareholder, advised by the HKLW team, continued his “hands-on support” in the initiation and main protective shield proceedings. In coordination with all relevant stakeholders, the reorganization in self-administration was successfully concluded by integrating the business operations of the Kohl Automotive group, consisting of Kohl Automotive GmbH, Kohl Automotive Treuenbrietzen GmbH, and Kohl Automotive Eisenach GmbH, into Spanish Segura group effective June 30, 2023. All 400 jobs were saved in the process.
Kohl Automotive group is a specialist for metal processing and an experienced supplier to the automotive industry. Due to market developments and the multidimensional crisis with the pandemic in particular, as well as the energy crisis and supply chain issues, it was after careful consideration and preparation that the protective shield reorganization finally proved to be the best option for Kohl Automotive.
Grupo Segura is a Spanish automotive supplier of metal components, mainly using stamping and welding processes. Headquartered in Paterna with five manufacturing plants in Spain and one in Hungary, the company focuses on optimized designs to improve stability while reducing weight to reduce fuel consumption. The acquisition will enable Segura to expand its possibilities to develop and supply the Central and Northern European market.
Counsel to Kohl Automotive group
Heuking Kühn Lüer Wojtek:
Prof. Dr. Georg Streit (Lead),
Dr. Kai Uwe Büchler,
Niklas Stöckle, LL.M.,
Dr. Fabian Bürk, LL.M. (all Corporate / M&A), all Munich