India-based Varroc Group agrees to acquire Visteon Corp.’s automotive lighting business for $92 million in cash.
On March 12, it was announced that Willkie client Varroc Group has agreed to acquire the automotive lighting business of Visteon Corporation, the Michigan-based global provider of automotive parts, for $92 million in cash. The unit produces a wide range of exterior lighting products supplied to global vehicle manufacturers, including front and rear lighting systems, auxiliary lamps and key subcomponents such as projectors and electronic modules. With operations in Europe, North America and Asia, the unit had $531 million in revenue in 2011. Based in Aurangabad, India, Varroc Group supplies components for two-, three- and four-wheel passenger and commercial vehicles, offering full capabilities in design, development and manufacturing.
The deal, led by corporate partner Robert Stebbins and associates Michael Brandt and Jonathan Scott, was handled by a multidisciplinary Willkie team, including: Corporate: special European counsel Karine Lenczner; Bankruptcy: partner Paul Shalhoub; Employee Benefits: partner Michael Katz, national partner Christian Rolf and associates Geri Anne McEvoy and Jochen Riechwald; Environmental: partner Donald Elliott and associate Johanna Hickman; Intellectual Property: partner John DiMatteo, special counsel Kim Walker and associate Melissa Berger; Real Estate: associate Adam Feit; Regulatory: special counsel Jonathan Konoff; and Tax: partner Christopher Peters and associate Michael Hilkin.