Eversheds Sutherland has advised Veoneer and SSW Partners

Eversheds Sutherland has advised the automotive technology company Veoneer and SSW Partners in connection with the sale of Veoneer’s active safety business to Magna, a mobility technology company and one of the world's largest suppliers in the automotive space.

Veoneer is now focused on safety critical electronics and has added Safety Systems to its corporate brand. Veoneer Safety Systems is the world leader in Automotive Electronic Safety Systems with sales of approximately $ 750 million for the full year 2022. Its restraint control systems are saving lives by mitigating the effects of a car crash. To date, Veoneer has delivered more than 1 billion electronic control units and crash sensors to car manufacturers globally. Veoneer Safety Systems has approximately 2,700 employees in 11 countries.

The transaction reflects Eversheds Sutherland’s ability to deliver on complex cross-border transactions for clients capitalizing on the firm’s multi-jurisdictional corporate and commercial strengths together with its extensive cross-border M&A transactional experience.

The Eversheds Sutherland multi-jurisdictional team was led from the Stockholm office by M&A partner Ulrika Sparrman and included the corporate associates Joel Olsson, Gustav Dahlsjö, Therése Berg and Mark Falkner. The team also included Tord Svensson and Sabrina Ibrisevic from the real estate team and Philip Heilbrunn, Mattias Dacker and Jessica Khoo from the Banking & Finance team. The Eversheds Sutherland team (including partnership firms) consisted of lawyers from approximately 10 jurisdictions.