GOF advises ZF on the sale of its stake in ASAP Holding GmbH

Munich, July 21, 2023 – Gütt Olk Feldhaus has advised ZF Friedrichshafen AG on the sale of its shares in ASAP Holding GmbH together with other shareholders to a subsidiary of the Indian HCL Technologies, Inc.

GOF coordinated the sale process as deal counsel from a legal perspective. The transaction is subject to regulatory approvals and the fulfilment of other closing conditions.

ASAP Group is a development partner for renowned automotive manufacturers and suppliers (OEM) and offers comprehensive development services in the areas of electrics, software, consulting & service, vehicle development and testing.

HCL Technologies, headquartered in Noida, India, is a stock-listed service and consulting company with approx. 220,000 employees and revenues of $11.48 billion in the business year 2022.

Globally active technology group ZF supplies systems for the mobility of passenger cars, commercial vehicles and industrial technology. The company runs 168 production sites in 32 countries and has approx. 165,000 employees worldwide. In 2022, ZF generated sales of €43.8 billion.

ZF Friedrichshafen AG had acquired a 35 percent stake in ASAP Holding GmbH in 2019.

GOF regularly advises ZF on national and international transactions.

Legal advisors to ZF Friedrichshafen AG:

Gütt Olk Feldhaus, Munich: Dr Sebastian Olk (Partner, Corporate/M&A, lead), Thomas Becker, LL.M. (Of Counsel, IP/IT/Commercial), Dr Dominik Forstner, Dr Marcel Schmidt (both Senior Associates, Corporate/M&A)

Pusch Wahlig Workplace Law, Munich: Ingo Sappa (Employment)

Blomstein, Berlin: Dr Max Klasse, Dr Roland Stein, Dr Leonard Freiherr von Rummel, LL.M.; Associates: Vanessa Kassem, LL.M., Jasmin Mayerl (all Antitrust / Foreign Trade)

About Gütt Olk Feldhaus:

Gütt Olk Feldhaus is a leading internationally active law firm based in Munich, Germany. We advise on all aspects of commercial and corporate law. The main areas of our expertise are company law, M&A, private equity and finance. We also handle litigation in these areas.


Dr. Sebastian Olk
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+49 174 21 88 911

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