November 3, 2006
TK Aluminum Ltd., the indirect parent of Willkie client Teksid Aluminum Luxembourg, announces agreement to sell certain assets to Tenedora Nemak.
On November 2, TK Aluminum Ltd., the indirect parent of Willkie client Teksid Aluminum Luxembourg S.à r.l., S.C.A., announced that it has entered an agreement to sell certain assets to Tenedora Nemak, S.A. de C.V., a subsidiary of ALFA, S.A.B. de C.V. for $496.8 million in cash and a synthetic 11.5% equity interest in the Nemak business post-closing. The agreement calls for the company to sell most of its assets in North America and all of its operations and interests in South America, China and Poland. Teksid Aluminum is a leading independent manufacturer of aluminum engine castings for the automotive industry. The company operates 15 manufacturing facilities in Europe, North America, South America and Asia.
The M&A transaction was handled by partners Thomas Cerabino, Mark Cognetti and Christopher Peters (tax), and associates Margaret Mansouri, Christopher Freeland, Kevin Bell and Rebecca Kirschner, with the financing aspects being handled by associates Jeffrey Goldfarb, Sandrine Asseraf, Stéphane Huten and Adam Shulman. The consent solicitation was handled by partners Marc Abrams, Gregory Astrachan, John Longmire, Mark Cognetti and William Hiller, and associate Yara Martinez. Partner Alexandra Bigot handled French law aspects and partner Maurizio Delfino and associate Luca Leonardi handled Italian law aspects of the transaction.
