Munich, February 13, 2023 – Gütt Olk Feldhaus advises ZF Friedrichshafen AG on a strategic partnership with Wolfspeed, Inc, a global leader in silicon carbide technology.
The two companies join forces to establish an innovation center for the development of silicon carbide systems and components for mobility, industrial and energy applications in Germany. The collaboration will drive improvements such as higher efficiency, increased power density and higher performances for electrification solutions.
The partnership also includes a significant investment by ZF to support the planned construction of the world’s most advanced and largest 200mm Silicon Carbide device fabrication facility in Ensdorf, Germany. Both projects are part of the "Important Project of Common European Interest" (IPCEI) for Microelectronics and Communication Technologies, that is still dependent upon state aid approval from the European Commission.
The transaction is subject to the conclusion of legally binding agreements as well as antitrust and regulatory approvals.
Wolfspeed Inc., headquartered in Durham, North Carolina, is a market leader in the introduction of silicon carbide and GaN technologies. The company's product families include silicon carbide materials, power devices, and RF devices for various applications, including electric vehicles, 5G, renewable energy, and aerospace, among others.
ZF is a global technology company supplying systems for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. With some 157,500 employees worldwide, ZF reported sales of €38.3b in the fiscal year 2021. The company operates 188 production locations in 31 countries.
Gütt Olk Feldhaus regularly advises ZF on transactions.
Legal advisors to ZF Friedrichshafen AG:
Gütt Olk Feldhaus, Munich: Dr. Sebastian Olk, Adrian von Prittwitz, (both partners, Corporate/M&A, both lead), Thomas Becker (Of Counsel, IP/IT), Isabelle Vrancken, Maximilian Spindler, Dr. Dominik Forstner (all Senior Associates, Corporate/M&A)
Pusch Wahlig Workplace Law, Munich: Ingo Sappa (Employment Law)
Simpson Thatcher, New York: Jakob Rendtorff (US Law)
PwC Legal, Hamburg: Jan Philipp Otter, Kathrin Rode (IPCEI Subsidies)
Held Jaguttis, Cologne: Dr. Malte Jaguttis (Public Law/Subsidies)
About Gütt Olk Feldhaus:
GOF is a leading international active business law firm based in Munich providing specialized in corporate law, M&A, private equity and financing.