Binder Grösswang advises Lenzing on sale of plastics business unit
Binder Grösswang has advised Austrian Stock Exchange-listed Lenzing on the auction sale of its plastics business unit (Lenzing Plastics) to an Austrian bidding consortium led by Invest, the investment company of the Raiffeisen Banking Group Upper Austria based in Linz.
The valuation equals close to eight EBITDA multiples of the 2012 financial year. This decision was preceded by a multi-stage bidding process in which the new owner proved to be the best bidder.
Binder Grösswang partner Florian Khol and his team advised Lenzing during the complete auction sale process, including boardroam advice and regulatory aspects.
The lawyers involved were Khol (partner, transaction counsel, corporate/M&A and capital markets), Hemma Parsché (transaction associate), Alexander Kramer and Christoph Hofer (real estate), Andreas Hable (corporate), Christian Wimpissinger (tax), Johannes Barbist (environment, regulatory), Horst Lukanec (employment), Emanuel Welten and Stephan Heckenthaler (finance) and Hellmut Buchroithner (intellectual property).
Analysis from The Lawyer
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work