BPV Huegel has advised Constantia Flexibles on a squeeze-out compensation settlement for minority shareholders of the formerly-listed Constantia Packaging AG. The settlement amount is almost EUR 50 million, and the deal closed last week.
Following the squeeze-out of the CPAG group by One Equity Partners in 2010, the minority shareholders requested a review of the granted cash compensation. After five months of out-of-court negotiations, an agreement was reached with around 35 applicants and the court-appointed representative of the shareholders who did not file a motion for themselves.
Constantia Flexibles is the world's third largest manufacturer of flexible packaging solutions, with around 8,300 employees at 38 locations in 16 countries.
The bpv Huegel team was led by Partner Christoph Nauer and included Partner Kornelia Wittmann and Attorneys Daniel Reiter, Paul Pfeifenberger, and Nicolas Wolski.
At Constantia, the proceedings and settlement negotiations were conducted by General Counsel Martin Schneeweiss and his team.