DBAG Fund VII, a fund managed by Deutsche Beteiligungs AG (DB:DBAN) and management of Sero Schroder Elektronik Rohrbach Gmbh agreed to acquire a majority stake in Sero Schroder Elektronik Rohrbach Gmbh from Armin Schroder`s family members in a management buyout transaction on October 8, 2018. Members of Sero`s current management will retain stake in Sero. The transaction is being financed by Commerzbank, IKB Deutsche Industriebank AG, Landesbank Baden-Württemberg and Siemens Bank. Sero Schroder Elektronik Rohrbach Gmbh had revenue of approximately €79 million. Post closing, the previous shareholders will leave the management of the company. The transaction is subject to antitrust approval. The transaction is expected to close in November 2018. Thomas Konig, Esther Jansen, Anders Kraft, Aliresa Fatemi, Denise Tayler, Sven Oppermann, Philipp Jaspers, Evelin Moini, Marion von Gronheim and Astrid Ruppelt of Shearman & Sterling acted as legal advisors to Deutsche Beteiligungs AG. Jochen Lamb, Carolin Armbruster, Martina Meier Grom, Stefan Voß, Marc Seibold, Anne Waßmuth, Martin Mohr, Rolf Hempel and Martin Cholewa of CMS Deutschland acted as legal advisors for Schroder`s family. Frank Schlobach, Patrick Reuter, Jan-Alexander Lange, Mara Andreano, Eike Bicker, Marina Stoklasa, Moritz Holm-Hadulla, Dominik Braun and Vanessa Gehle of Gleiss Lutz acted as legal advisors for DBAG. MP Corporate Finance acted as financial advisor to AS Vantage Holding. Peter Gröninger, and Ann Kristin Lochmann of PwC acted as accountant, while Jan Jetter of Linklaters acted as legal advisor for Deutsche Beteiligungs AG.