Adler Pelzer Holding GmbH completed the acquisition of 73.25% stake in STS Group AG from Mutares SE & Co. KGaA.
June 29, 2021
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Adler Pelzer Holding GmbH signed an agreement to acquire 73.25% stake in STS Group AG (XTRA:SF3) from Mutares SE & Co. KGaA (XTRA:MUX) for 33.3 million on March 11, 2021. Transaction includes the full business operations of Plastics and Materials in Europe, China and the United States. Under the transaction, Adler Pelzer Holding GmbH will pay 7 per share for 4.76 million shares to Mutares SE as a part of consideration. Adler Pelzer Group has further undertaken the obligation to ensure that all loans granted to STS Group AG by Mutares will be fulfilled by December 31, 2021. Post transaction, Mutares SE will not have any stake in STS Group AG. STS Group AG will be part of the Adler Pelzer Plastics division and continue to serve its customer best in class. Mathieu Purrey, the sole member of the management Board of STS Group AG will resign from his office with effect from closing of the transaction. The transaction is subject to positive merger control opinion and external financing confirmation from Adler Pelzer Group. The closing of the transaction is expected in H1 2021. Martin Kolbinger, Maximilian Mersch and Stephanie Birmanns of Schilling, Zutt & Anschutz acted as legal advisor to Mutares SE & Co. KGaA in transaction. William Blair & Company, L.L.C. and Jonathan Aiken of BDA Partners acted as financial advisors to Mutares SE & Co. KGaA. Michael Immordino, Leonardo Graffi, Tobias Heinrich, Carola Glasauer and James Greene of White & Case and Piero Gaeta, Maurizio De Martino, Francesco Genna, Giancarlo Pagliaro, Aurelio Gaeta and Mattia D'Addea of AvvocatoGaeta Stapa acted as legal advisors Adler Pelzer.
Adler Pelzer Holding GmbH completed the acquisition of 73.25% stake in STS Group AG (XTRA:SF3) from Mutares SE & Co. KGaA (XTRA:MUX) on June 30, 2021.
Mutares SE & Co KgaA is a Germany-based holding company focused on acquiring companies in special situations, such as owner or management succession and re-funding. It is active in three segments: Automotive & Mobility, including Elastomer Solutions, a manufacturer of rubber moldings, Plati, a supplier of cable harnesses, Kico, a supplier for automotive technology and STS Group, a supplier for commercial vehicle; Engineering & Technology, including Balcke-Duerr, a producer of power plant components, Donges Group, a manufacturer of bridge and steel constructions, EUPEC, a supplier of coatings for oil and gas pipelines, and Gemini Rail Group, a provider of component and vehicle overhaul services to rolling stock owners, and Goods & Services, including KLANN, a manufacturer of tinplate packaging, Cenpa, a manufacturer of coreboard, La Meusienne, a manufacturer of stainless steel tubes, TrefilUnion, a producer of iron wire and prestressing steel, and keeeper group, a plastic manufacturer.