A team of Gleiss Lutz lawyers has advised a consortium consisting of Hansol Paper, the largest paper manufacturer in Korea and worldwide leading supplier of specialty paper, and Mirae Asset Daewoo Private Equity, the private equity arm of Korea’s largest investment bank, on its sale of the Schades Group and the R+S Group to Harbour Investment, a German private fund. The parties have agreed not to disclose the purchase price.
The Danish company Schades, with its headquarters in Skive, processes thermal paper for its customers, which includes receipt paper rolls for cash registers and self-adhesive labels. R+S, with its headquarters in Sarstedt, Germany, processes and markets thermal paper for receipts, coupon and ticket applications as well as for labels.
Gleiss Lutz has a leading Asia practice and regularly advises clients from Asia, especially China, Japan and South Korea, on their activities in Germany. This year Gleiss Lutz has already advised the Korean NICE Holdings on the sale of its majority shareholding in BBS GmbH. This means that the advising of Hansol Paper and Mirae Asset Daewoo Private Equity is the second transaction for a Korean company in which Gleiss Lutz has been involved in 2020.
Hansol Paper and Mirae Asset Daewoo Private Equity were advised on the transaction by the following team of Gleiss Lutz lawyers, headed by Dr. Michael Burian (partner, lead) and Dr. Anselm Christiansen: Friedrich Baumgärtel (Düsseldorf, all M&A), Frank Schlobach (partner, finance, Frankfurt).
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