Danfoss, a Danish world-leading manufacturer of heat transfer solutions, has completed the acquisition of Eaton Corporation’s hydraulics business for USD 3.3 billion following confirmation of all necessary regulatory approvals and closing conditions. A share purchase agreement had been signed on 29 January 2020, and the parties successfully completed the transaction on 2 August 2021.
Paksoy is pleased to announce that a team led by Elvan Aziz (partner) together with Hazal Korkmaz (senior associate) and Mert Karakaşlar (associate), as well as Togan Turan (partner) and Gamze Boran (associate) for competition law aspects, acted as Turkish counsel to Danfoss on this transaction, alongside Winston & Strawn LLP acting as global counsel.
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