K&L Gates Advises LKQ Corporation on €1.04bn Pan-European Acquisition
London and Milan - Lawyers from the London and Milan offices of global law firm K&L Gates have advised longstanding client LKQ Corporation (NASDAQ: LKQ), a leading supplier of alternative automotive parts, on the acquisition of Rhiag-Inter Auto Parts Italia S.p.a. (Rhiag) for a purchase price of €1.04bn. Rhiag is a leading pan-European distributor of aftermarket spare parts for passenger cars and commercial vehicles serving more than 100,000 professional clients. The transaction is expected to close in the second quarter of 2016 subject to the satisfaction of conditions and receipt of regulatory approvals.
London corporate partner Jeremy Davis and Milan corporate partner Pasquale Marini led the K&L Gates team that advised LKQ, supported by London competition partner Neil Baylis, London insurance partner Frank Thompson, and Patrick Navein on the corporate side, as well as Francesco Carloni, Francesco Peruffo, and Serena Germani in Milan.
Marini stated: “With operations in Italy, the Czech Republic, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, and Poland, this was a transaction requiring a high degree of responsiveness and genuine pan-European support.”
Davis commented: “Having advised LKQ Corporation on its first move into the European market in 2011 with the acquisition of Euro Car Parts, we are delighted to have assisted them in this latest highly significant European transaction.”
K&L Gates comprises approximately 2,000 lawyers globally who practice in fully integrated offices located on five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.