2 minute read | March.06.2024
Orrick and Austrian law firm Herbst Kinsky have advised the Terreal Group, a major provider of roofing and building solutions, and its main shareholders, on the antitrust and merger control aspects of the sale of its business to Wienerberger and Swisspor. Orrick and Herbst Kinsky acted as antitrust co-counsel on the transaction.
The sale to Wienerberger, a leading international manufacturer of building materials and infrastructure solutions, encompassed Terreal operations in France, Italy, Spain and the United States, along with the business of Creaton (Terreal’s subsidiary) in Germany and Benelux.
In parallel, Terreal’s operations in Austria, Poland and Hungary were sold to Swisspor, another major player of the building materials industry.
From an antitrust and merger control point of view, the transaction required prior approvals from various competition authorities and involved complex problematics, dealt with through Phase II proceedings in some instances. In particular, in Austria, an in-depth review by the Cartel Court was conducted in both cases and final approvals were only granted subject to commitments by the parties.
Founded more than 150 years ago in France, the Terreal Group is a European leader in roofing and innovative solutions in the construction sector. The transaction is valued at EUR 600 million and encompasses around 3,000 Terreal employees across 28 production sites.
The Orrick team advising Terreal and its shareholders on the antitrust aspects consisted of:
The Herbst Kinsky team advising Terreal and its shareholders on the Austrian antitrust aspects consisted of: