Funkwerk has sold its subsidiary Funkwerk Dabendorf to the novero Group with effect from 1 October 2012.
The subsidiary handles the key operations of the automotive communication division.
The purchase agreement was signed yesterday. The business premises belonging to Funkwerk Dabendorf in Dabendorf/Zossen and the company’s 100 per cent share in Funkwerk eurotelematik are not included in the sale.
A team from CMS Hasche Sigle led by lead partner Eckhart Braun advised Funkwerk on all legal aspects of the sales process.
The sale of the Zossen-based company is another strategic milestone for Funkwerk in its restructuring process. It also represents a further step towards focusing on the core areas traffic and control communication, and security communication.
The sale of Funkwerk Dabendorf is subject to suspensive conditions which are likely to be satisfied in October 2012.