DORDA BRUGGER JORDIS advises Frauenthal on the sale of its Catalytic Converter Division
Andreas W. Mayr, Jürgen Kittel and Christoph Brogyányi, Partners at DORDA BRUGGER JORDIS, have advised Frauenthal Holding AG, a diversified group listed on the stock exchange, on the sale of its industrial honeycombs (or catalytic converter) division.
Frauenthal had been in negotiation with potential buyers since mid- April. On 26 April 2012, an agreement was reached with the Japanese Ibiden Group, which will pay EUR 51 million for the Frauenthal division and also take on its financial liabilities. The transaction is expected to be concluded in the second quarter of 2012. Prior to that, the anti-trust authorities must give their approval. Frauenthal Holding AG sees the transaction as a logical step in its strategic realignment, because it wants to concentrate more on its Automotive Components and Wholesale Plumbing Supplies (SHT) divisions.
"Contributing to the strategic realignment of Frauenthal Holding AG was an interesting challenge, and we are delighted about the confidence that the company placed in us. Both the smooth process and extremely quick agreement once again underscore our ability to implement our client’s economic interests with the greatest possible efficiency," says Andreas W. Mayr, Head of the Capital Market Team and Public M&A Partner of DORDA BRUGGER JORDIS.
The Frauenthal Group has eleven production locations in Europe and a distribution company in both the USA and South Korea. Another distribution company is presently being set up in China (Beijing). The shares and bonds of Frauenthal Holding AG are listed on the Vienna Stock Exchange.
DORDA BRUGGER JORDIS is a leading law firm in Austria, considered by many international lawyers' reference guides as "leading" in M&A & corporate law, they also recommend the firm for all other areas of commercial law. In addition to M&A, capital markets law, banking and financing, the firm also specializes in tax law, restructurings and insolvency law, dispute resolution, employment law, real estate, competition, IT/IP and public commercial law.