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19 January 20243 minute read

DLA Piper advises Yamaha Motor on acquisition of electric marine propulsion manufacturer Torqeedo Group

DLA Piper has advised global client Yamaha Motor Co., Ltd. on a share purchase agreement with German Deutz AG in respect of the acquisition of Torqeedo Group, a marine electric propulsion manufacturer operating through its German parent company and its US and Thailand subsidiaries. Yamaha Motor acquires the shares in Torqeedo GmbH for a higher double-digit million-euro amount. The acquisition is subject to applicable regulatory clearances.

Torqeedo Group offers a wide-ranging lineup of products, from electric outboard and inboard motors to batteries and various other accessories. With sales in the small electric motor market on the rise, mainly in Europe, Torqeedo Group continues to grow. It holds various patents related to electric motors, propellers, and electric systems, as well as R&D capabilities, mass-production equipment, and development resources for next-generation environmental technologies.

Yamaha Motor’s aim in acquiring Torqeedo Group is to strengthen Yamaha Motor’s marine products business and to accelerate the company’s efforts for achieving carbon neutrality in the marine industry as well as establishing a small electric propulsion lineup. Furthermore, by combining Torqeedo Group’s assets with Yamaha Motor’s technical expertise and know-how in hull design and marine engines, synergies for creating mid-range electric outboard motors will be realized.

Takeo Kitanaka, General Manager and Head of the Legal & IP Division commented as legal lead of the transaction on Yamaha Motor's side: “We are grateful to the DLA Piper team for providing excellent advice to Yamaha Motor on this highly complex cross-border transaction, contributing with business acumen and a good sense for progressing the transaction smoothly and successfully.”

The DLA Piper team was co-led by counsel Dr Isaschar Nicolaysen and partner Dr Benjamin Parameswaran (both Corporate/M&A, Hamburg), with counsel Hanna Lütkens (Corporate/M&A, Munich), senior associates Anne-Kathrin Hoppe, Dr Marcel Schmidt and associate Dr Tom Lasar (all Corporate/M&A, Hamburg) in the core team.

The team further comprised partners Dr Henriette Norda (Employment, Hamburg), Dr Jan Geert Meents (IT), Dr Thilo von Bodungen (Commercial, both Munich), Dr Burkhard Führmeyer (IP, Frankfurt), Verena Grentzenberg (Data Protection, Hamburg), Lars Reubekeul (Real Estate, Munich), Dr Konrad Rohde (Tax), Semin O (Antitrust), Dr Wolfram Distler (Finance, all Frankfurt), counsels Georg Haberkorn (Pensions), Michael Ziegaus-Clavien (Real Estate, both Munich), Sven Bischoff (Tax, Frankfurt), Dr Enno Ahlenstiel (Antitrust), Dr Thilo Streit (Public Law, both Cologne), Patrick Reuter (Finance), of counsel Martin Heinsius (Tax, both Frankfurt), senior associates Dr Katharina Fischer (Employment, Hamburg), Annika Heinz (Employment), Ekaterina Filikhina (IT, both Munich), Matthias Goumas (Arbitration), associates Philipp Schmechel (Data Protection, both Hamburg), Monika Marincic (Commercial, Munich), Marisa Machacek (IP, Frankfurt), Sabrina Wimmer (Real Estate, Munich), Dr Marco Feyhl (Public Law), Julia Götzendorff (Antitrust, both Cologne) and Sindy Martin (Finance, Frankfurt).

For the US, client partner Richard Bull, partners Steve Reil (both Corporate), Keith Ranta, associates Myriem Bennani (both Employment) and Maria Rydder Schwartz (Corporate) were involved.

For Thailand partner Thananan Sangnuan (Corporate), senior associate Parada Saibua (Employment) as well as associates Thanadee Wittayachon and Chutikarn Boonnark (both Corporate) advised on the transaction.

In France, partner Gregory Tulquois and associate Valentin Deprez (both IPT) supported.