Proskauer is representing Iochpe-Maxion, a publicly traded Brazilian auto parts and railway equipment manufacturer, in the transaction announced on October 6, 2011 in which Iochpe would acquire Michigan-based Hayes Lemmerz International, Inc. for approximately $725 million.

The transaction will combine the wheels business of Iochpe with the global wheels business of Hayes Lemmerz, providing significant benefits to customers and other constituencies. The combined company will have a worldwide footprint, with manufacturing locations in 13 countries and a presence in every major automotive region. The transaction, which is expected to close during the first half of 2012, is subject to customary closing conditions, including approval by the stockholders of both companies and regulatory approvals. The companies will continue to operate independently until the transaction is completed. 

The Proskauer team representing Iochpe in the deal is led by Daniel I. Ganitsky and also included Joseph J. Giunta and Andrew H. Kleiman (Mergers & Acquisitions); Alan P. Parnes (Tax); Colin Kass (Antitrust); Andrea S. Rattner and Joshua Miller (Employee Benefits); and David Fenwick (Finance). In the transaction, Proskauer led a team of international legal advisors that included law firms in Brazil, Germany, Czech Republic, Mexico, Spain, Austria, Poland, Turkey and Thailand.   

The deal is also the latest cross-border transaction handled by Proskauer’s Mergers & Acquisitions Group, which has over the last 18 months expanded its global capabilities with the additions of Mr. Ganitsky and Mr. Giunta, as well as Seung Chong and Jeremy Leifer in Hong Kong, and Russell T. Carmedy and Michael Nouril in London.