Istanbul, Turkey, 26 June 2015 – One of South Korea's newest private equity funds, Hahn & Company, acquires Halla Visteon Climate Control Corp., a leading global technology company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for the world's major vehicle manufacturers.
Hahn & Company acquired a 50.50% stake in Halla Visteon Climate Control Corp. and Hankook Tire Co. Ltd. acquired a 14.49% stake. According to international press, the transaction was valued at approximately $3.6 billion.
"This is a major global transaction involving one of the first forays into the Turkish market by a South Korean private equity fund, and we are pleased to have been involved in this groundbreaking deal," commented Partner Muhsin Keskin.
A team of lawyers from Esin Attorney Partnership, a member firm of Baker & McKenzie International, advised Hahn & Company in relation to Halla Visteon's Turkish subsidiary, Halla Visteon Otomotiv Iklimlendirme Sistemleri Uretim Sanayi ve Ticaret Anonim Sirketi. Partner Muhsin Keskin advised on the transaction with support from attorneys Caner Elmas and Deniz Erden. The deal was closed on June 9, 2015.
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About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of legal services in the Turkish market. Today, as a member firm of Baker & McKenzie, our team of nine partners and more than 60 lawyers is an integral part of a seamless global network. Our Firm is recognized locally and globally for our M&A experience, and we have advised on some of the largest deals in the Turkish market, involving public and private companies, private equity funds and other strategic investors.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world's most dynamic and successful business organizations through more than 11,000 people in 77 offices in 47 countries. The Firm is known for its global perspective, deep understanding of the local language and culture of business, uncompromising commitment to excellence, and world-class fluency in its client service. Global revenues for the fiscal year ended 30 June 2014, were US$2.54 billion. Eduardo Leite is Chairman of the Executive Committee. www.bakermckenzie.com
About Visteon
Visteon is a global technology company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world's major vehicle manufacturers. Visteon is a leading provider of driver information and controls, audio and infotainment, and domain controllers; its brands include LightScape®, OpenAir® and SmartCore". With corporate offices in Van Buren Township, Michigan, (U.S.); Shanghai, China; and Chelmsford, UK; Visteon has more than 12,000 employees at 50 facilities in 21 countries. Visteon had sales of $7.51 billion in 2014.
About Hahn & Company
Founded in December 2010 by Scott Hahn, former CIO and Managing Director for Morgan Stanley Private Equity Asia, Hahn & Company recently closed their first fund at 800 billion won of committed capital.
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