Vienna, 9 September 2022 – The European leader for B2C online used car sales Aramis Group relied on the legal advice of Wolf Theiss regarding its acquisition of Onlinecars, the Austrian market leader for refurbished vehicle sales.
Under the co-lead of Corporate/M&A Partner Christian Mikosch and Corporate/M&A Senior Associate Michael Kienzl, Wolf Theiss advised Aramis Group on its acquisition of Austria’s leading online used car retailer, Onlinecars.
The Wolf Theiss team further consisted of Karl Binder (Partner, Real Estate), Paulina Pomorski (IP & TMT), Stefan Wartinger (Competition & Antitrust; both Counsels), Anna Schwamberger (Employment), Harald Strahberger (Regulatory & Procurement; both Senior Associates), Nikolaus Wollner (Corporate/M&A), Dominik Mayrhofer (Real Estate), Miranda Ellison (Competition & Antitrust; all Associates) and Daniel Schmidt (Legal Trainee; Regulatory & Procurement). The team has already been involved in the negotiations of the Letter of Intent and was responsible for due diligence, drafting the transaction documents, negotiations, signing and merger control as well as the coordination of the various parties involved.
“The transaction was definitely challenging, as the negotiations dragged on over a longer period and a number of additional complexities in the transaction structure had to be overcome. In the end, however, the transaction was also characterized by great collaboration on all sides”Michael Kienzl, Senior Associate, Wolf Theiss Vienna
“In such transactions, it is important to provide the client with more than just legal expertise; project management, economic acumen and understanding of local customs are equally relevant”Christian Mikosch, Partner, Wolf Theiss Vienna
Aramis Group and Onlinecars are highly complementary in terms of their strategic and operational features as well as their entrepreneurial culture. With Onlinecars’ leading position in Austria for B2C online used car sales, its web platform, a refurbishing centre and three customer centres, the company will enable Aramis Group to make a solid market entry in Austria and to ramp up its further expansion in Central Europe. Based on the business guidance for the current fiscal year, the new combined structure is expected to achieve full-year revenues of close to EUR 2 billion pro forma in 2022.