GreatStar Europe AG completed the acquisition of Partial Assets of Joh. Friedrich Behrens.
June 31, 2021
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GreatStar Europe AG agreed to acquire Partial Assets of Joh. Friedrich Behrens for 27.9 million on March 29, 2021. Closing of the transaction is subject to various conditions, in particular the approval of the creditors' committee as well as antitrust and foreign trade clearance. The transaction has been approved in the 6th Meeting of the Company's 5th Directorate held on March 29, 2021, and does not need the Shareholders' Approval of Hangzhou Great Star Industrial Co., Ltd. As of May 28, 2021, Germany's Economy Ministry has approved the acquisition. As of June 2, 2021, all conditions were fulfilled. The transaction expected to close on June 1, 2021.
Martin Tasma, Jens Wenzel, Daniel Kress, Fabian Quast, Jan Bonhage, Markus Ernst, Alf-Henrik Bischke, Hendrik Bockenheimer and Fabian Seip of Hengeler Mueller acted as legal advisor to GreatStar, Tjark Thies,Friederike Kirch-Heim and Arno Doebert of Reimer Rechtsanwalte and Johan Schneider, Thorsten Kuthe, Stefan Bretthauer, Jörg Schewe, Johan-Michel Menke, Fabian G. Gaffron, Hans Markus Wulf,Sebastian Jungemeyer, Christian Spintig, Ullrich Schlichtherle, David Loszynski, Bodo Dehne, Eric Chris Baumgartner and Marcel Hostettler of Heuking Kühn Lüer Wojtek acted as legal advisor to Joh. Friedrich Behrens AG. Christoph Morgen of Brinkmann & Partner acted as Administrator in the transaction. ALANTRA Deutschland GmbH and PricewaterhouseCoopers Transaction Services Germany acted as financials advisors for GreatStar Europe AG.
GreatStar Europe AG completed the acquisition of Partial Assets of Joh. Friedrich Behrens on June 1, 2021. Glatzová & Co. acted as legal advisor to GreatStar.
Joh Friedrich Behrens AG is a Germany-based developer and provider of pneumatic fastening tools and related accessories for the packaging, furniture, construction, and automobile industries, among others. Its products, marketed under the BeA brand name, include pinners, T-nailers, and nailers for corrugated fasteners; coil-, strip-, D-head, and roofing Nailers; tools for special applications; bench-mounted pneumatic Nailers; automated tools; hot-melt technology and dynamic gas technology solutions; compressors; timber connectors; pallet systems and fasteners, among others. The Company operates through the three geographical segments Germany, Europe, and the rest of the world. The Germany segment covers the activities of its domestic subsidiaries, the Europe segment comprises the activities in Europe, excluding Germany and the Rest of the World segment includes activities in the United States and Brazil.