Herbst Kinsky, working with Orrick, has advised the Terreal Group and its main shareholders on the antitrust aspects of the full sale of its businesses in Poland, Hungary, and Austria to Swisspor. Schoenherr advised Swisspor Holding on the acquisition.
The transaction included the purchase of 100% of the shares in Creaton Polska, Creaton South East Europe, and Creaton Steildach, together forming the Creaton Eastern Business, from its former indirect shareholder, Terreal Holding. In an interrelated transaction, Terreal's operations in France, Italy, Spain, and the US, as well as Creaton's business in Germany and the Benelux countries were sold to Wienerberger (as reported by CEE Legal Matters on January 12, 2023).
Swisspor, and its affiliate Swisspearl, are active in the building and roofing material sector as providers of energy-efficient building cladding.
The Creaton Eastern Business manufactures and sells roofing materials as well as clay and cement tiles.
According to Schoenherr, "this strategic acquisition is a significant step in Swisspor's pursuit to expand its footprint by offering exceptional building solutions characterized by both efficiency and aesthetics. The integration of the Creaton Eastern Business into the Swisspor Group consortium will actively support Swisspor's growth strategy by utilizing potential synergies. In particular, it enables Swisspor to not only increase its market presence in Austria, but, with the acquisition of the two Creaton clay tile plants in Poland and Hungary, to expand into Central Eastern European markets, which aligns with Swisspor's strategic interests.
The Herbst Kinsky team advising included Counsel Valerie Mayer and Associate Valerie Krischke.
The Schoenherr team included Austria-based Partners Franz Urlesberger and Robert Bachner, Counsel Gregor Petric, Attorney at Law Daniel Wadl, and Associates Maha Zoehrer and Nikolaus Stepan; Hungary-based Partner Kinga Hetenyi and Attorney Adrian Menczelesz; and Romania-based Partner Georgiana Badescu, Managing Attorney at Law Cristiana Manea, Attorney at Law Cristina Pana, and Associate Stefana Andronachi.
Editor's Note: After this article was published, Gide announced it had advised Swisspor as well. The firm's team included Poland-based Partner Dariusz Tokarczuk, Counsels Mateusz Gronau and Dawid Van Kedzierski, and Associate Edyta Zalewska; and France-based Partner Nadege Nguyen, Counsel Charles Terdjman, and Associates Arthur Lemaitre and Elisa Domingues.
