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Brandl & Talos and CMS Advise Martens Management Group on Proposed Takeover of Cinkarna Celje

Brandl & Talos and CMS Advise Martens Management Group on Proposed Takeover of Cinkarna Celje

Austria
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Brandl & Talos and CMS Slovenia have advised the Martens Management Group on its proposed takeover of Cinkarna Celje, a Slovenian corporation listed on the Ljubljana Stock Exchange.

Anatol S.a r.l., a company of the Austrian Martens Management Group, announced its intention to take over the entire outstanding shares of Cinkarna Celje d.d. with the financial support of KKR.

According to Brandl & Talos, “Cinkarna is one of the largest producers of titanium dioxide, a product used in chemicals, plastics, and paper industries, and the only independent player in Europe. The company is the largest Slovenian chemicals processing company with revenues of more than EUR 200 million and 900 employees.”

The Martens Management Group is a private industrial holding company, with strong experience and knowledge in international and Slovenian chemical and coating industries.

Anatol intends to publish a voluntary takeover bid for the acquisition of Cinkarna’s shares within thirty days following official notification of the takeover intention on June 4, 2018, subject to satisfactory confirmatory due diligence. According to Brandl & Talos, "Martens Management Group with the support of the renowned investment firm KKR intends to provide an attractive offer to the existing shareholders of Cinkarna. Anatol proposes to offer EUR 220 per share. Including the proposed dividend of EUR 26.52 per share, the total value offered to the current shareholders of Cinkarna is EUR 246.52 per share. This value represents a substantial premium of 26.1% to the 12-months average share price of Cinkarna and would value Cinkarna at around EUR 200 million."

Brandl & Talos advised the Martens Management Group on both the proposed takeover procedure and on financing arrangements with KKR. The firm's team was led by Partner Roman Rericha, supported by lawyers Markus Arzt, Christopher Schrank, Sabine Schmidt, Julie Sugay, and Alexander Stucklberger.

The CMS Slovenia team advising on Slovenian law aspects was supervised by Partner Ales Lunder.

 

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