Fangda Partners assists Lear Corporation in its global acquisition of the Interior Comfort
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Fangda Partners assists Lear Corporation in its global acquisition of the Interior Comfort Systems business unit of Kongsberg Automotive (ICS business) involving a transaction consideration of EUR175 million, on a cash and debt free basis. A key part of this deal is Lear China’s acquisition of assets and taking over of employees in China under the ICS business. The transaction was signed and publicized on October 28, 2021. The Fangda team was led by partners Vivian Zhang and Lisa Zhao. Fangda provided PRC legal services in full aspects covering legal due diligence, legal documents, legal opinion, etc., which support the smooth transition of the ICS business and proper placement of employees. Lear is a global automotive technology leader in Seating and E-Systems. Kongsberg Automotive also has a leading position in the ICS business worldwide.
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