Schoenherr worked alongside German firm Buse Heberer Fromm in advising British specialty chemicals company Synthomer plc on its acquisition of BASF SE's production site for styrene-butadiene-based paper dispersions in Pischelsdorf, Austria. BASF SE was represented by Eisenberger & Herzog. Herbert Smith Freehills was lead competition counsel.
According to a BASF press release, the purchase price amounts to EUR 30 million, and the 42 employees who work at the Pischelsdorf site have been taken on by Synthomer Austria GmbH. The transaction closed on January 31, 2018.
The paper dispersion business acquired by Synthomer is located in Pischelsdorf, Austria, and it produces styrene-butadiene rubber used in the paper packaging industry.
Synthomer, which is listed on the London Stock Exchange, is a chemicals company specializing in latex and emulsion polymers for the manufacturing, packaging, and health industries.
BASF is a chemical producer with shares traded on the stock exchanges in Frankfurt, London, and Zurich.
Schoenherr provided M&A, merger control, and labor law advice to Synthomer in Austria. The firm's advisory team was led by Counsel Maximilian Lang and included Associates Alexander Mazevski and Teresa Waidmann. Schoenherr EU & Competition Partner Volker Weiss managed the proceedings with the relevant competition authorities together with the help of Associate Evelin Hlina.
The Buse Heberer Fromm team was led by Partner Lars Rossner and included Partners Mathias Maria Knorr, Christian Preetz, Gosta Schindler, and Jasper Hagenberg, and Counsels Erbo Heinrich and Kristina Plenty.
Eisenberger & Herzog’s team included Partners Marco Steiner, Andreas Zellhofer, and Judith Feldner, with Associates Christoph Lejsek and Johannes Feilmair.