Schoenherr has advised Tello Holding on the acquisition of a majority stake in VA Intertrading Aktiengesellschaft by taking over Kairos Industrie Holding from Hanno Baestlein. DSC Doralt Seist Csoklich reportedly advised the seller.
Tello Holding had previously acquired 14.99% of the shares in VAIT. According to Schoenherr, “the former VA-Tech CFO Hanno Baestlein has sold 100% of his shares in Kairos Industrie Holding to Tello Holding, which is owned by Swiss Attorney-at-Law and investor Wolfram Kuoni. Kairos Industrie Holding holds 37.34% of the shares in VAIT, which is a world-renowned trading company in food and feed, steel products, pharmaceutical products, and agricultural machinery.”
According to the firm, “the origin of VA Intertrading lies in the Voestalpine and the steel trade industry. Over the course of more than 40 years, its range has been extended to include many other goods and services, making the company Austria's long-running leading commodities trading company. The company employs about 770 people in 31 locations worldwide and has an average annual turnover of about EUR 800 million.”
The remaining shares of VA Intertrading AG are held by employee and management shareholding companies.
The Schoenherr team included Partner Michael Magerl and Associate Thomas Reich.