Gleiss Lutz has advised the Austrian voestalpine AG on the sale of its German Group subsidiary Buderus Edelstahl to the investment company Mutares SE & Co. KGaA.
The contract was signed on 22 October 2024 and the sale now awaits approval from the relevant competition authorities. The parties have agreed not to disclose the purchase price. The transaction is expected to be concluded by the end of the fourth quarter of 2024.
The listed voestalpine AG is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries; it has around 51,600 employees worldwide. In the business year 2023/24, the Group generated revenue of EUR 16.7 billion.
Buderus Edelstahl is a leading manufacturer of high-quality standard and special steels primarily used in vehicle manufacturing, plant and mechanical engineering, and tool and mould construction. In the business year 2023/24, the company generated revenue of EUR 362 million and has a current workforce of 1,130 employees.
A voestalpine legal team led by Dr. Sabine Kelmayr-Tippow (Head of Legal, M&A and Compliance, voestalpine High Performance Metals), together with Mag. Christoph Hauser, Mag. Tamara Tomic and Mag. Victoria Ranegger, handled the transaction in-house.
The following Gleiss Lutz team led by Dr. Alexander Schwarz (partner, Düsseldorf) and Dr. Moritz Alexander Riesener (partner, both M&A, Munich) advised voestalpine on the transaction:
Dr. Ralf Morshäuser (partner, Munich), Kai Zimutta, Dr. Fabian Mumme, Dr. Philipp Lucks, Thomas Felix Baldzuhn (all Düsseldorf), Dr. Tobias Falkner (counsel), Jan Neumayer (all M&A, both Munich), Dr. Thomas Winzer (partner), Dr. Tobias Abend (counsel), Henrike Westphal (all Employment, all Frankfurt), Dr. Gabriele Roßkopf (partner), Dr. Silke Hoffmann, Dr. Sima Samari (all Corporate, all Stuttgart), Dr. Jacob von Andreae (partner), Dr. Lars Kindler (counsel), Matthias Hahn, Dr. Nena Husemann (all Public Law, all Düsseldorf), Dr. Matthias Werner (partner), Dr. Felizitas Casper, Dr. Sebastian Girschick (all Munich), Dr. Christopher Noll (all IP/Tech, Stuttgart), Dr. Tim Weber (partner), Maximilian Leisenheimer, Michael Clever, (all Real Estate, all Frankfurt), Dr. Jennifer Hattaß (Competition/Antitrust, Stuttgart), Friedrich Schlott (counsel, Restructuring, Düsseldorf), Dr. Ocka Stumm (partner, Frankfurt), Dr. Hanna Datzer (both Tax, Düsseldorf).
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