Alno AG (DB:ANO) signed a contract to acquire AFG Kuechen from AFG Arbonia-Forster-Group AG (SWX:AFGN) on January 17, 2014. The full takeover will be financed with bank loans and a bond. AFG generated revenue of €140 million for the year 2013.

Alno will take over all 500 AFG workers. The transaction is subject to approval by the Austrian Competition Authority. Ernst & Young acted as accountant for Alno AG.

Ashurst LLP Germany acted as legal advisor for Alno AG.