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Press releases 22 Mar 2024 · Austria

CMS advises biogas specialist Botres on the formation of an equity joint venture with Hartree

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Press release - 22 March 2024 

The law firm CMS Reich-Rohrwig Hainz, known for its expertise in the areas of commercial law and ESG, has advised Botres Holding GmbH (“Botres”) in the process of forming an equity joint venture with Hartree. In this context, the global commodities firm Hartree signed an acquisition agreement for a 50% share in Botres in early March.

Botres is a key supplier of ultra-modern industrial biogas plants and biorefineries in Austria, the Czech Republic, Poland, Italy, Spain, and Turkey. The enterprise plans to intensify its activities in the build-own-operate (BOO) business. In the process, it intends to develop new plants for its portfolio. Furthermore, it seeks to enter new national markets. Botres and Hartree have the shared goal of making Botres one of Europe’s leading biomethane production businesses.

“We are very pleased to have supported Botres and its two founders in this future-facing project,” CMS partners Clemens Grossmayer and David Kohl (both M&A) agree.

As advisors to Botres, CMS provided comprehensive, multidisciplinary services that included structuring the transaction and the joint venture, especially with respect to the shareholder rights (influence and control) of the new shareholder vis-à-vis the founding managing partners, as well as the sale of the shares in the target company, and drafting and negotiating the transaction documents.

In addition to the two lead partners, Clemens Grossmayer and David Kohl (both M&A), the CMS transaction team included partners Marlene Wimmer-Nistelberger (Public Law), Dieter Zandler (FDI) and Jens Winter (Employment), lawyer Jia Schulz-Cao and associate Lukas Fabsits (both IP), as well as associate Rebecca Herlitz (Corporate/M&A). 
Schönherr, led by Michael Marschall, provided legal support to Hartree.

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