Sanitary systems group Geberit is allowed to take over ceramic manufacturer Sanitec Oyi, which is listed on the Stockholm stock exchange. In October 2014 Geberit had announced a tender offer worth EUR 1.1 billion. In December 2014 over 90 percent of Sanitec shareholders had accepted the offer. Meanwhile the deal has been approved by the relevant European cartel authorities.
Gleiss Lutz advised Swiss-based Geberit AG extensively on the antitrust aspects of the transaction, conducting the merger control proceedings in Germany and coordinating the relevant procedures in Austria, France, Poland and the Netherlands.
Sanitec is best known in Germany for its Keramag brand. The takeover will allow the Geberit Group to expand its product portfolio to include sanitary ceramics, making it the market leader for sanitary products in Europe.
Geberit AG was advised by Dr. Matthias Karl (lead, partner) and Patrick Grüner (both competition/antitrust, Stuttgart).
In 2010, Gleiss Lutz already successfully advised the company in sanitary cartel proceedings before the European Commission, securing an acquittal for Geberit.
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