Dr. Gregor von Bonin

Global law firm Freshfields has advised Vossloh AG on the issuance of subordinated unsecured notes with a total volume of €250mn. The term of the notes is indefinite, and the notes are callable for the first time after five years and solely by Vossloh. The notes bear interest at a rate of 5.375 per cent per annum and were issued at 100% of the nominal amount. Because of the specific terms and conditions of the notes, the nominal amount will be reported as equity in Vossloh’s IFRS consolidated financial statements. Vossloh intends to use the proceeds from the issuance for general corporate purposes including the financing of acquisitions and the refinancing of outstanding financial debt. Jefferies acted as Global Coordinator and Manager in the placement of the notes for Vossloh. The notes will be included in the Open Market of the Frankfurt Stock Exchange. The Freshfields team included Partners Christoph Gleske (Capital Markets, Frankfurt) and Georg Roderburg (Dusseldorf), Counsel Peter Stark (Frankfurt, both Tax), Principal Associate Birgit Schulz and Associate Julius Stecher (both Capital Markets, Frankfurt).

Jan 27

1 min

Japanese conglomerate Asahi Kasei Corp. said Thursday it has agreed to buy biopharmaceutical company Aicuris for €780 million ($920 million) cash to fuel the German company's research and development efforts, in a deal steered by Freshfields LLP and Gibson Dunn & Crutcher LLP. Asahi Kasei will acquire Aicuris Anti-infective Cures AG through Veloxis, its U.S. pharmaceutical firm specializing in therapies for transplants. Asahi Kasei said the transaction is subject to "customary conditions." Freshfields is advising Veloxis, working with its in-house legal team led by Noel Barnard and Tom Brady. The Freshfields team includes Christian Ruoff, Michael Ramb, Stephan Denk and Jil Rollmann. Gibson Dunn is acting as legal adviser to Aicuris in the transaction, with a team that includes Dirk Oberbracht, Sonja Ruttmann, Ryan A. Murr, Aliresa Fatemi and Lars Petersen. Aicuris focuses on drug candidates for the prevention and treatment of infectious diseases in people with weakened immune systems. "Asahi Kasei's goal to address serious unmet needs in infectious diseases aligns with our mission to provide innovative antiviral therapies for immunocompromised patients," Aicuris chief executive Larry Edwards said. "Becoming part of Asahi Kasei will accelerate our research and development." Aicuris has offices in Wuppertal, Germany, as well as a U.S. office in Massachusetts, according to its website. Asahi Kasei, which has its head office in Tokyo, has three business divisions comprising healthcare, home and materials. Its healthcare section includes pharmaceuticals, which covers areas such as therapeutic solutions in the fields of orthopedics and the immune system. "This acquisition strengthens our position across interconnected therapeutic areas, including autoimmune diseases, transplantation, kidney disease, and severe infectious diseases," said Ken Shinomiya, head of Asahi Kasei's healthcare sector. "It enhances our pipeline and reinforces our strategy to build a leading global specialty pharmaceutical company," Shinomiya said. Asahi Kasei's home and materials divisions includes construction and car interior products, respectively.

Feb 26

2 min

Global law firm Freshfields has advised Vossloh AG on the issuance of subordinated unsecured notes with a total volume of €250mn. The term of the notes is indefinite, and the notes are callable for the first time after five years and solely by Vossloh. The notes bear interest at a rate of 5.375 per cent per annum and were issued at 100% of the nominal amount. Because of the specific terms and conditions of the notes, the nominal amount will be reported as equity in Vossloh’s IFRS consolidated financial statements. Vossloh intends to use the proceeds from the issuance for general corporate purposes including the financing of acquisitions and the refinancing of outstanding financial debt. Jefferies acted as Global Coordinator and Manager in the placement of the notes for Vossloh. The notes will be included in the Open Market of the Frankfurt Stock Exchange. The Freshfields team included Partners Christoph Gleske (Capital Markets, Frankfurt) and Georg Roderburg (Dusseldorf), Counsel Peter Stark (Frankfurt, both Tax), Principal Associate Birgit Schulz and Associate Julius Stecher (both Capital Markets, Frankfurt).

Jan 27

1 min

Global law firm Freshfields Bruckhaus Deringer ('Freshfields') is advising Etex on the consolidation of its portfolio of sustainable business activities through the acquisition of URSA, a European leader in insulation solutions, from Xella Group. This acquisition is subject to customary closing conditions. Through this transaction, Etex is securing a new business growth platform, in addition to the opportunity to continue playing a pivotal role in addressing sustainability challenges. By adding insulation expertise to its plasterboard, fibre-cement, passive fire protection and modular offering, Etex will also extend its ability to provide systems and solutions. URSA’s activities are present across more than 20 countries in Europe, including France, Germany, Spain and Poland, in addition to Russia. The company operates 13 production sites and covers most countries where Etex is already operating through its other divisions. Headquartered in Madrid, URSA brings a reliable European supply chain network and a team of over 1,700 dedicated employees for a revenue of circa €500 million. Like Etex, it prides itself on the sustainability and comfort features of its products. The Freshfields team is led by Gregor von Bonin (partner, Düsseldorf) and Judit Gajdics (counsel, Munich) and comprises Edward Cole (partner, London), Moritz Heidbuechel (counsel, Frankfurt), Dr. Aljoscha Barath (Hamburg), Gaïa Pattyn (Munich), Dr. Maxim Gomer (Düsseldorf), Lisa-Marie Woschniak (Munich), Dr. Timo Piller, Daniel Vogt (both Düsseldorf) and Madalena de Abreu (London, all Corporate/M&A). Tax advice is being provided by Dr. Georg Roderburg (partner) and Thomas Richter (both Düsseldorf). Partner Dr. Martin Klusmann is advising on competition law together with Dr. Sebastian Pritzkow (both Düsseldorf). Dr. Ulrich Sittard (Partner, Düsseldorf) and Kristin Kammann (Hamburg) are advising on employment law and Dr. Michael Ramb (partner, Düsseldorf) and Sascha Arnold (counsel, Hamburg) are advising on public and environmental law together with Lena Hanke (Berlin).

Jan 14

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Stumpf Group and M+W Group, the direct and indirect shareholders of Exyte, on the sale of a significant minority interest to funds affiliated with BDT Capital Partners and the shareholders’ agreement for the future partnership. Closing of the transaction is subject to customary regulatory approvals. As sole shareholder of M+W Group, Georg Stumpf will continue to hold a majority stake in Exyte. Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With targeted sales of €7 billion for 2022, Exyte forecasts an adjusted EBITDA of approximately €450 million and an adjusted EBIT above €400 million for the current fiscal year. The Freshfields team advising on the transaction was led by Partners Gregor von Bonin and Nicholas Günther with support from Principal Associate Timo U. Piller and Associate Carolin Compes (all Düsseldorf). Additional support was provided by Partners Jenny Hochenberg (all Corporate/M&A) and Pamela Marcogliese (Capital Markets, both New York), Nabeel Yousef (Washington), Norbert Schneider (Tax, Düsseldorf) and Stephan Pachinger (Capital Markets, Frankfurt/Vienna). The team worked together with Hogan Lovells with Frankfurt based Partner Matthias Jaletzke in lead for the firm.

Nov 18

1 min