Schoenherr has advised and is representing Cubic (London) Limited ("Cubic") on a public takeover for all shares not held by San Gabriel Privatstiftung, T.R. Privatstiftung, or the other core shareholders in C-QUADRAT Investment AG ("C-QUADRAT"), an independent asset management company listed on the Vienna stock exchange.
The public offer was triggered by the January 15, 2016 acquisition by Cubic of a 25.1 percent shareholding in C-QUADRAT. Subsequently, San Gabriel Privatstiftung and T.R. Privatstiftung, Q-Capital, Hallmann Holding, and Laakman Holding Limited as core shareholders sold and transferred their shareholdings, totaling approximately 65.5%, to Cubic. These two transactions and the public offer are subject to regulatory clearances in, among others, Austria and the United Kingdom.
On April 5, 2016 a public offer was launched with an offer price of EUR 60/share. Following the successful completion of the public offer and clearance of the second transaction, Cubic intends to effect a squeeze out and will delist C-Quadrat.
Schoenherr advised Cubic on all aspects of the preparation and launch of the public offer. Moreover, Schoenherr, as transaction counsel, also advised on the January 15 acquisition by Cubic and of the subsequent acquisition of shareholdings from core shareholders, as well as the related financings of the transactions.
The Schoenherr team advising Cubic is led by Partner Christian Herbst and consists of Partner Peter Feyl, Attorney Maximilian Lang, Counsel Sascha Schulz, and Associate Alexander Mazevski.
Editor's Note: After this article was published Binder Groesswang announced that it had advised Talanx on the sale of its 25.1% stake in C-Quadrat to Cubic Limited. The shares were sold to Cubic for the price of EUR 42.00 euros per share, and thus for a total purchase price of just under EUR 46 million. The Binder Groesswang team consisted of Lead Partner Florian Khol, lawyer Hemma Parsche, and trainee lawyer Christoph Schober.
