Baker McKenzie advised an affiliate of Indian B.C. Jindal Group on the acquisition of Treofan Group, a former Celanese subsidiary based in Raunheim, from Italian financial investor M&C S.p.A.. The transaction is expected to close before the end of the first quarter 2019, subject to the satisfaction of certain conditions precedent, including several antitrust clearances.
The transaction is part of a share deal and included all remaining Treofan Group companies following the previous spin-off and sale of the US business unit to CCL Industries headquartered in Toronto.
"With a cross-border team advising on the deal, we helped our client to strategically expand their portfolio in the field of biaxially oriented polypropylene films and continue to successfully maintain and expand their competitive position in the market in the long term", comments Baker McKenzie Corporate Partner Berthold A. Hummel.
B.C. Jindal Group, based in New Delhi, India, is a leading Indian conglomerate and a world leader in the development and production of films made of biaxially oriented polypropylene. Since its foundation in 1952, the group has diversified into the manufacture of polyester film, BOPP film, photographic goods, cold rolled steel strips, galvanized sheets and metallized films.
The Treofan Group, founded in 1969 and based in Raunheim, Germany, is a leading global manufacturer of biaxially oriented polypropylene films (BOPP films) for packaging, label and technical applications. The group employs around 800 people, operates three production sites in Germany and Italy and sells its products in more than 90 countries worldwide.
Baker McKenzie's Corporate / M&A team regularly advises on domestic and international transactions and restructurings. Most recently, Baker McKenzie advised Gerresheimer on the acquisition of Sensile Medical, Global Ports Holding Plc on its strategic investment in Dreamlines, Ufenau Capital Partners on the acquisition of the Kruppert Group, the Nison Group on the acquisition of the majority stake of the SieMatic Group, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production, Rexnord on the acquisition of the CENTA Group and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to B.C. Jindal Group: Baker McKenzie
Lead: Berthold A. Hummel (Corporate/M&A, Partner, Munich), Dr. Michael Bartosch (Corporate/M&A, Partner, Munich)
Corporate/M&A: Julia Braun (Counsel, Munich), Vanessa Fritzsche (Associate, Frankfurt), Dr. Markus Mörtel (Associate, Frankfurt), Dr. Tino Marz (Associate Munich), Raffaele Giarda (Partner, Rome), Antonio Lattanzio (Associate, Rome), Dr. Holger Ellers (Partner, Berlin)
Anti Trust & Trade: Dr. Nicolas Kredel (Partner, Düsseldorf), Clara Dust (Associate, Düsseldorf)
Banking & Finance: Kathrin Marchant (Partner, Frankfurt)
IP: Dr. Johannes Druschel (Associate, Munich)
Employment: Christian Koops (Associate, Munich), Giulia Spalazzi (Associate, Milan)
Pensions: Dr. Anna Verena Böhm (Counsel, Frankfurt)
Public Law: Dr. Tim Heitling (Partner, Berlin), Dr. Claire Dietz-Polte (Associate, Berlin), Dr. Andreas Schulz (Counsel, Berlin)
Commercial: Dr. Ingmar Oltmanns (Associate, Frankfurt)