Orrick advised WESTFLEISCH SCE mbH on the drafting and approval, by German regulator BaFin, of a prospectus under the new EU-Prospectus Regulation for the public offer of up to €22.5 million of participation notes (Genussscheine), offered in three tranches starting October 1, 2019.
The offer period for the public offer will continue until November 29, 2019. With the new issuance, WESTFLEISCH SCE mbH will refinance participation rights due at the end of November 2019 and receive additional financing for new projects.
Headquartered in Münster, WESTFLEISCH SCE mbH is one of the most successful meat marketers in Europe, counting nine production sites in northwest Germany and employing about 5,000 people. The cooperative, owned by more than 4,000 farmers, exports approximately 40% of its products to over 40 countries worldwide.
WESTFLEISCH was advised by an Orrick team led by Munich-based capital markets partner Timo Holzborn, who regularly advises clients on IPOs and other capital market transactions. The team also included partner Stefan Schultes-Schnitzlein (tax, Düsseldorf) and senior associate Olexiy Oleshchuk (capital markets, Munich).