Reed Smith advised Manufacture Française des Pneumatiques Michelin (Michelin), the leading French tire manufacturer, on its strategic acquisition of PTG Reifendruckregelsysteme GmbH.
Michelin is one of the four largest tire manufacturers in the world, with 111,700 employees in 171 countries. PTG is a global market leader and outfitter for agricultural vehicles for tire pressure control systems. Michelin enables users through this acquisition to monitor and adapt tire pressures according to the terrain and conditions of use. This acquisition signals Michelin’s intention to become a global leader for tire pressure control systems in the agricultural market.
The Reed Smith team advised cross-office and cross-practice on the transaction and all related legal matters, including corporate law, tax law, labour law, real estate, intellectual property (IP) and financing. In particular, the firm’s strong European IP capability was harnessed to provide detailed advice on the patents required for successful acquisition.