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CMS advises Heraeus on the acquisition of Argor-Heraeus


Zurich – On 3 April 2017, the technology group Heraeus, headquartered in Hanau, Germany, announced that its Global Business Unit, Heraeus Precious Metals (HPM), has acquired Swiss precious metals processor, Argor-Heraeus (Argor), which will make Heraeus the world’s largest provider of precious metals services. In addition to its current share of approximately 33%, Heraeus will also acquire the stakes of former co-owners, Commerzbank and Münze Österreich, and the shares of Argor’s management.

Argor is one of the world’s leading precious metals corporations. Headquartered in Mendrisio, it also has facilities in Germany, Italy, and Latin America. The company employs over 300 people and occupies a key position at the centre of the supply chain for precious metal processing. Argor’s key business focuses on refining mined gold, recycling precious metals, and the industrial processing of bars, coins, alloys, and semi-finished products.

Heraeus has held a stake in Argor since 1986. The parties have agreed not to disclose financial details of the deal. Approval by the relevant authorities is required before the deal can be concluded.

A team of CMS Switzerland under the aegis of lead partner Stefan Brunnschweiler, with the support of CMS Brussels, comprehensively advised the buyers in the context of the acquisition as well as on the negotiation of the respective transaction documents on all legal aspects.

CMS Switzerland

Stefan Brunnschweiler, Lead Partner, Corporate/M&A

Dr Daniel Jenny, Partner, Corporate/M&A

Daniel Burkhard, Associate, Corporate/M&A

Kilian Keller, Trainee, Corporate/M&A

Marquard Christen, Partner, Competition

Mauro Nicoli, Associate, Competition


CMS Brussels

Kai Neuhaus, Partner, Competition