CMS advises ERIKS on the sale of its subsidiary Siekmann Econosto
Duesseldorf – ERIKS N.V. sells its German subsidiary Siekmann Econosto GmbH & Co. to Neway Valve (Suzhou) Co., Ltd. The parties have agreed to keep the details of the transaction confidential. The transaction is still subject to regulatory approvals in Germany and China and is expected to be completed in Q1 2020.
An international CMS team headed by Lead Partner Dr Ernst-Markus Schuberth provided ERIKS with comprehensive legal advice on all aspects of the sale.
Siekmann Econosto is a leading player in providing niche valve and gasket solutions for international engineering and construction companies, power plant operators, oil and gas plants and the chemical industry.
ERIKS, based in Utrecht, is a multi-product specialist offering a wide range of mechanical engineering components and technical services to all sections of industry. With around 7,500 employees worldwide, the company generates sales of approximately EUR 1.9 billion.
Dr Ernst-Markus Schuberth, Lead Partner
Katharina Mareike Franitza, Senior Associate, both Corporate/M&A
Thomas Gerdel, Partner
Dr Martin Friedberg, Senior Associate, both Tax Law
Dr Thomas Sonnenberg, Partner, Compliance
Birgit Wagner, Senior Legal Consultant
Alexander Borchers, Coordinating Legal Consultant
Fazila Ahmad, Legal Consultant
Conrad Gräwe, Legal Consultant
Stephanie Schulz, Legal Consultant
Steven Washington, Legal Consultant, all SMOP
Christian Delgado, Counsel, Corporate/M&A
Dr Thomas Heidemann, Partner
Elizaveta Rakova, Associate, both Corporate/M&A