Munich – Plastal GmbH in Insolvency has been sold to the French Faurecia Group after a multi-stage auction procedure. Faurecia is one of the world's leading automotive suppliers with sales of more than EUR 12 billion in 2008. Plastal GmbH, which together with its Spanish and French subsidiaries has just under 3,000 employees, is also a leading automotive supplier. Plastal is the first "just-in-sequence" supplier to become insolvent. Plastal's customers include all the major car manufacturers operating in Germany (VW, Daimler, BMW, Audi, Porsche, Ford, Opel).
A team led by lead partner Alexander Ballmann advised the insolvency administrator on all aspects of the assets of Plastal GmbH in Insolvency in the context of insolvency proceedings and on the sale to Faurecia. The key areas covered by CMS Hasche Sigle included advising on restructuring, especially the HR dimension, as well as support for negotiations with customers.
Advisers CMS Hasche Sigle:
Alexander Ballmann, M&A and Restructuring (Lead Partner)
Professor Martin Erker, M&A and Restructuring
Dr Claudia Rid, Employment Law
Birgit Schneider, Restructuring
Dr Tilman Weichert, M&A and Restructuring
Dr Clarissa Freundorfer, Restructuring
Dr Nina Hartmann, Employment Law
Heike Rechtenbacher, IT, IP, Restructuring
Dr Henning Tabbert, Real Estate
Dr Siegfried Beck (Insolvency Administrator)
Dr Ulf Pechartscheck