Orrick Advises Westag & Getalit AG in Takeover by Broadview Industries AG

May.24.2018

Deutsch: Orrick berät die Westag & Getalit AG im Zusammenhang mit der Übernahme durch die Broadview Industries AG 

Orrick advised Westag & Getalit AG, a leading manufacturer of high-quality wood-based products for interior finishing and building construction, in connection with the takeover of the company by Broadview Industries AG.

Westag & Getalit AG's principal shareholder, Gethalia Foundation, entered into an agreement with Broadview Industries AG on May 23, 2018 for the sale of all ordinary shares it currently holds; this represents 75.5% of the ordinary shares issued. The package purchase comprises 37.75% of all Westag & Getalit AG shares. The sale is subject to merger control approval.

After completing the transaction, Broadview Industries AG will become the main shareholder of Westag & Getalit AG. In addition, Broadview Industries AG has published its decision to make a voluntary public takeover bid to Westag & Getalit AG's shareholders for the ordinary and preferred stock shares they hold.

Westag & Getalit AG is one of Europe’s leading manufacturers of high-quality wood-based products for interior finishing and building construction. In 2017 the company, which has approximately 1,300 employees and locations in the German cities of Rheda-Wiedenbrück and Wadersloh, generated a turnover of €234.4 million.

Broadview is a holding based in the s-Hertogenbosch, Netherlands. The companies controlled by Broadview inter alia include Trespa International B.V., a Dutch producer of bonded panels for building frontages and laboratory equipment, and Arpa Industriale S.p.A., an Italian producer of HPL panels for various interior surfaces.

Westag & Getalit AG is being advised by an Orrick team in Germany led by M&A and Private Equity partner Oliver Duys, who regularly advises on international M&A transactions. He was assisted by partners Nikita Tkatchenko (M&A and Private Equity), Christoph Rödter (M&A and Private Equity), and Till Steinvorth (Antitrust), and associate Julia Schmitz (M&A and Private Equity).