Morris Law has together with Latham & Watkins acted as Swedish legal advisor to Kongsberg Automotive ASA (“Kongsberg”) in their divestment of the light-duty cables business unit to Suprajit Engineering Limited (“Suprajit”) in relation to the Swedish subsidiary, Kongsberg Automotive AB.
Kongsberg provides products to the global industry. The light-duty cables business unit is engaged in the development and manufacture of mechanical and electro-mechanical light-duty cables mainly used in on-highway and off-highway applications.
The two companies have entered into an agreement in October, 2021, for the divestment of the light-duty cables business unit. The transaction, subject to regulatory approvals and other customary closing conditions and adjustments, is expected to close in the first quarter of 2022 and where Suprajit will acquire Kongsberg Automotive’s LDC business unit for an Enterprise Value of EUR 37.7 million.
Kongsberg will further focus their resources and investments on high-potential, technology-driven and know-how-intensive business areas.
Read more about the divestment here.
Morris Law's project group has mainly consisted of Olof Myhrman, Martin Vildhede, Therese Andersson, Ana Ferreira Rodrigues, and Jesper Almqvist.