ADCURAM Group AG agreed to acquire 98.57% stake in Poggenpohl Möbelwerke GmbH from Nobia AB (publ) (OM:NOBI) for an equity value of €10 million in cash on December 19, 2016. The cash consideration corresponding to an equity value of €10 million is subject to customary closing day adjustments. The deal is subject to approval from the competition authorities in Germany and Austria. Poggenpohl Möbelwerke had generated revenues of €110 million in the year 2015. The transaction is expected to be closed during the first quarter of 2017. Thomas Lotz and Thorsten Steinhaus of TRACC LEGAL, Jonas Holmstedt and Nicolina Erickson of WÅHLIN and Corinna Neunzig of Hermanns Wagner Brück acted as legal advisors to ADCURAM. Maja Wettergren, Magnus Staaf, Viktor Eriksson, Pierre Olsson, Kristoffer Molin, Nils Mansfeld and Berndt Pettersson of CEDERQUIST acted as legal advisor to the seller. Michael Haidinger, Moritz Koch, Till Burmeister, Jörg Hahn, Boris Dzida and Benjamin Köpple of Freshfields Bruckhaus Deringer (Germany) acted as legal advisors to Nobia AB. Ira Wülfing of IRA WÜLFING KOMMUNIKATION GmbH acted as public relations advisor to ADCURAM. goetzpartners HOLDING GmbH & CO. KG acted as financial advisor to Nobia AB (publ) (OM:NOBI) in the transaction. ADCURAM Group AG completed the acquisition of 98.57% stake in Poggenpohl Möbelwerke GmbH from Nobia AB (publ) (OM:NOBI) on January 31, 2017. The deal was approved by the competition authorities in Germany and Austria.