Paul, Weiss is advising ABC Technologies, an entity majority-owned by funds managed by affiliates of Apollo Global Management, on the financing and regulatory aspects of a recommended all-cash offer for ABC Technologies’ acquisition of TI Fluid Systems plc. TI Fluid Systems is a London-listed, market-leading global manufacturer of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Under the terms of the transaction shareholders of TI Fluid Systems will be entitled to receive 200 pence per share, valuing TI Fluid Systems at an enterprise value of approximately £1.83 billion. The deal is expected to close in the first half of 2025, subject to shareholder and other legal and regulatory approvals. The Paul, Weiss team is led by partners Gregory Ezring, David Carmona, Brian Kim, Matthew Friedman and Annie Herdman, and includes corporate partners Manuel Frey, Brian Janson, Matthew Goldstein and Brian Finnegan, and counsel Lisa Koff; antitrust counsel James Parkinson; and tax partners Brian Grieve and Cian O’Connor.