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Gide and Wolf Theiss Advise on Steinhoff International Holdings Sale of European Companies to Cotta Group

Gide and Wolf Theiss Advise on Steinhoff International Holdings Sale of European Companies to Cotta Group

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Gide Poland, Wolf Theiss Hungary, Switzerland's Python law firm, and King & Spalding Germany have advised Steinhoff International Holdings on the sale of its European companies to the Cotta Group. The buyer was reportedly advised by SSW Solutions. 

As a result of the transaction, Steinhoff International Holdings withdrew from the European furniture production business, sold its companies in Europe, and sold-off assets in particular trademarks. Gide advised on the sale of Steinpol Central Services sp. z o.o. in Poland, Prolog Vertriebs GmbH in Germany, and Quattro Mobili Kft and Kanizsa Trend Kft in Hungary.

Steinhoff International Holdings is an international retail holding company listed on the Frankfurt Stock Exchange and the Johannesburg Stock Exchange, with more than 40 local brands in over 30 countries, dealing mainly in furniture and household goods. 

Steinpol Central Services sp. z o.o., with its registered office in Rzepin, in north-west Poland, produces upholstered furniture, operating eight plants in Poland and one site in Hungary. Quattro Mobili Kft and Kanizsa Trend Kft are both located in Nagykanizsa, a city in southwest Hungary with decades of furniture manufacturing tradition. 

Based in Liechtenstein, Cotta Group designs, manufactures, and supplies seating furniture for customers in France, Switzerland, Italy, Austria, and throughout Eastern Europe. It offers upholstered furniture, leather sofas, household furniture, tables, and other chairs and furniture for living and dining areas. The company has production plants in Poland and Romania.

According to Gide, the firm managed all the legal matters concerning the project, from conducting a vendor due diligence of Steinpol Central Services sp. z o.o., to preparing and negotiating transactional documentation, while coordinating the project with law firms in other jurisdictions. Its team consisted of Partner Pawel Grzeskowiak and Senior Associates Edyta Zalewska and Michal Faderski. 

Wolf Theiss advised the Steinhoff Group on Hungarian aspects of the transaction. The firm's team was led by Partner Janos Toth and involved Associates Peter Ihasz and Kinga Kajcsos.  

Python was in charge of advising the Steinhoff Group on negotiating the agreements and coordinating the local law firms in this multi-jurisdictional transaction. The firm's team was led by Partner Christophe de Kalbermatten and Associate Frederic Paul-Reynaud.

The King & Spalding team consisted of Partners Alexandra Weis and Andreas Bohme and Associates Sten Hornuff and Michael Debesay.

Editor's Note: After this article was published, SSW Pragmatic Solutions confirmed that the firm advised Cotta Group. The firm's team was led by by Partner Pawel Chyb and included Partner Tomasz Wickel, Senior Associate Adam Pawlisz, and Associates Marta Szymczyk and Przemysław Szabat. The SSW team cooperated on the transaction with Vischer law firm in Switzerland, CMS in Germany, and Kinstellar in Hungary.   

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