Weichai Group recently signed an acquisition agreement for 51 % in Upper-Austrian transmissions specialist VDS Group. Under the lead of Corporate M&A partners and , assisted by associate (Corporate/M&A), DORDA's Digital Industries Group successfully advised Weichai in this complex cross-border transaction. The DORDA team could once again prove its expertise with interdisciplinary advice for clients with digital and technology driven business concepts. The closing of the transaction is subject to regulatory approvals. The parties have agreed not to disclose the purchase price.
"Due to their strong innovative drive, VDS was an attractive target and expands Weichai's smart international portfolio", says Christian Ritschka. And Martin Brodey adds: "We are delighted about the successful signing of the transaction."
Weichai is a Chinese group that offers products, services and technologies in particular for commercial vehicles as well as construction machinery. In recent years, the group signed various agreements overseas and now enters into the Austrian market.
VDS Group was founded in 2009 and is specialised in the development and production of transmissions, automatic drive systems and continuously variable transmissions (CVT/IVT). The high-tech company is based in the heart of Europe, Upper Austria, and combines passion with innovation, creative spirit and technology – creating software for transmissions.