DGKV assisted Auto Kelly Czech Republic, European affiliate of the US-based public company LKQ Corporation (Nasdaq: LKQ) (“LKQ”), on the acquisition of a minority stake in a local distributor of auto parts and post completion merger of the target with the local subsidiary of the acquirer.
LKQ Corporation merged its subsidiary Auto Kelly Bulgaria EOOD with Elit Kar OOD, creating one of Bulgaria’s leading distributors of automotive spare parts. LKQ now owns a 20% equity interest in the combined business, which shall continue to operate under both the Elit Car Group and Auto Kelly brand names. In addition, the combined business acquired parts from LKQ’s aftermarket supply chain. The work on the complex project, covering a series of interrelated cash and shares transactions, included legal due diligence of the local distributor of auto parts and assistance with drafting and negotiating of the transaction documents. The Bulgarian completion watchdog approved the transactions on September 30th, 2019.
Our team was led by partner Zdravka Ugrinova and supported by Senior Associates Lilia Kisseva, Silviya Apostolova, Vladislav Antonov and Kamen Gogov, and Associates Tsvetelina Bayraktarova, Galin Atanasoff, Lena Borislavova, Viktoriya Marincheva, Dessislava Ivanova, Darina Kuzeva, Hristo Stoyanov, and Peter Angov.