Frankfurt/Main – Swiss firm Rieter Holding AG and Saurer Intelligent Technology Co. Ltd. have signed an agreement on the acquisition of three businesses from Saurer Spinning Solutions GmbH und Co. KG and Saurer Technologies GmbH & Co. KG. The parent company of both firms is Saurer Netherlands Machinery Company B.V. In the course of the transactions, Rieter Holding AG firstly acquired a stake in the Dutch parent company Saurer Netherlands B.V. This equity interest combined with an injection of capital enabled the preliminary self-administration proceedings with regard to the assets of Saurer Spinning and Saurer Technologies to be ended prematurely by withdrawing the application. The acquisition will allow Rieter to complete its line-up of ring and compact spinning systems as well as adding two component businesses. The details of the transaction were not disclosed.
An international CMS team headed by Frankfurt-based partners Joachim Kühne and Dr Martin Bell together with Client Relationship partner Dr Patrick Sommer, Zurich, advised Rieter Holding AG, which is headquartered in Winterthur, Switzerland, on all legal aspects of acquiring the three businesses, with a particular focus on insolvency law.
CMS Germany
Joachim Kühne, Lead Partner, Frankfurt/Main, Restructuring and Insolvency
Dr Martin Bell, Lead Partner, Frankfurt/Main
Dr Tobias Kilian, Partner, Frankfurt/Main, both Corporate/M&A
Dr Georg Faude, Counsel, Düsseldorf
Dr Felix Mocker, Senior Associate, Frankfurt/Main, both Restructuring and Insolvency
CMS Switzerland
Dr Patrick Sommer, Partner, Competition, Client Relationship Partner
CMS Netherlands
Reinout Slot, Partner, M&A
Dex Destombes, Associate, M&A
Rieter Holding AG
Thomas Anwander, Group Secretary/General Counsel
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