Schoenherr has advised Palfinger on the reversal of the cross-shareholding structure with the Sany Group.
According to Schoenherr, “Palfinger is the global leader for innovative crane and lifting solutions. Palfinger AG has been listed on the Vienna stock exchange since 1999 and in 2020 achieved revenue of EUR 1.53 billion. The Sany Group is a leader in high-end equipment manufacturing with over 20 R&D centers and manufacturing bases around the world. Sany Heavy Industries is China's largest and the world's fifth-largest engineering machinery manufacturer.”
The share sale and purchase agreement between the two companies was signed in December 2021. Schoenherr had also advised Palfinger on the initial implementation of the cross-shareholding structure, in 2014.
Schoenherr’s team included Partner Robert Bachner, Counsel Sascha Schulz, and Associate Gabriel Ebner.
Schoenherr did not respond to our inquiry on the matter.