Broadview Industries AG entered into a share purchase agreement to acquire 40.32% stake in Westag & Getalit AG (DB:WUG) from Gethalia Foundation for €65.3 million on May 23, 2018. As reported, Gethalia Foundation will sell all its ordinary shares held in Westag & Getalit AG, amounting to 75.5% of the issued ordinary shares. In addition, Broadview Industries will make a voluntary public takeover offer to acquire all remaining ordinary and preference shares of Westag & Getalit AG. Under the takeover offer, the shareholders of Westag & Getalit AG will be offered €31.00 per ordinary and preference share in cash. If the settlement of the takeover offer occurs prior to the next Annual General Meeting of Westag & Getalit, the cash consideration in the amount of €30.26 per ordinary share and €30.20 per preference share will be increased by €0.74 per ordinary share and €0.80 per preference share to €31.00 per ordinary and preference share in cash. If the settlement of the takeover offer occurs after the next Annual General Meeting of Westag & Getalit AG, the shareholders will, in addition to the cash consideration in the amount of €30.26 per ordinary share and €30.20 per preference share in cash, receive the expected dividend for the financial year 2017 of €0.74 per ordinary share and €0.80 per preference share. If the dividend for the financial year 2017 is less than €0.74 per ordinary share and €0.80 per preference share, Broadview Industries AG will make up the difference for those shareholders who have tendered their shares as part of the takeover offer. If under the takeover offer, Broadview Industries pays an amount higher than €30.26 per Westag & Getali ordinary share to the shareholders who have tendered their shares into the offer, the price under the share purchase agreement is increased accordingly. The share purchase agreement is subject to condition precedent of clearance by the competent competition authorities. Bernd Wirbel, Reinhold Ernst, Thorsten Mäger, Patrick H. Wilkening, Matthias Cloppenburg, Maximilian Schauf, Anja Balitzki, Vicki Treibmann, Moritz Rademacher, Carsten Bormann and Maximilian Wosgien of Hengeler Mueller acted as the legal advisor to Broadview. Oliver Duys, Nikita Tkatchenko, Christoph Rödter, Till Steinvorth and Julia Schmitz of Orrick, Herrington & Sutcliffe LLP acted as the legal advisor to Westag & Getalit AG.