Acquisition of Electronics Business of Johnson Controls by Visteon
On July 1, 2014, Visteon Corporation (NYSE: VC) completed the acquisition of the automotive electronics business of Johnson Controls (NYSE: JCI), creating one of the world’s three largest suppliers of vehicle cockpit electronics. The acquired business provides automakers with driver information, infotainment, connectivity and body electronics products. The transaction involves about 4,800 employees, including about 1,000 engineers, electronics specialists and designers at seven research and development centers, including the Bulgarian Electronics Development Center of Johnson Controls with nearly 600 employees.
Boyanov & Co. acted as Bulgarian legal counsel to Visteon together with the global legal counsel Skadden, Arps, Slate, Meagher & Flom LLP. The firm provided advice and assistance on all Bulgarian legal aspects of the deal.
The Boyanov & Co.’s team on the deal was led by Nickolai Zisov, Senior Associate.
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