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Freshfields, Wolf Theiss, Savoric & Partners, and Filip & Company Advise on Agrofert’s Binding Offer for Borealis’ Nitrogen Business

Freshfields, Wolf Theiss, Savoric & Partners, and Filip & Company Advise on Agrofert’s Binding Offer for Borealis’ Nitrogen Business

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Freshfields Bruckhaus Deringer, Savoric & Partners, and Filip & Company have advised Borealis on a binding offer for its nitrogen business from the Agrofert group. Wolf Theiss advised Agrofert. Oppenheim, Boyanov & Co, and PRK Partners reportedly advised Borealis as well.

According to Freshfields, "the fertilizer producer intends to acquire Borealis' nitrogen business, which includes plant nutrients, melamine, and technical nitrogen products and is valued at EUR 810 million under the terms of the offer. Borealis will initiate the mandatory information and consultation procedures with employee representatives imminently."

Closing is expected for the second half of 2022, pending regulatory approval.

Borealis is a Vienna-headquartered circular polyolefin solutions provider, specializing in base chemicals, fertilizers, and the mechanical recycling of plastics. The company employs 6,900 people and operates in over 120 countries.

The Agrofert group is a Czech-based plant nutrients manufacturer with production facilities in Germany, the Czech Republic, and Slovakia. The conglomerate comprises more than 250 subsidiaries, with its activities spanning from chemicals and agriculture to food production.

"By adding Borealis’ production assets in Austria, Germany, and France as well as a comprehensive sales and distribution network utilizing the Danube River, this business combination would well complement Agrofert’s existing capabilities in serving its customers across Europe," Borealis announced.

Earlier this year, Borealis also received a binding offer for its nitrogen business from EuroChem (as reported by CEE Legal Matters on February 25, 2022). The company subsequently announced that it had declined EuroChem’s offer. According to Borealis CEO Thomas Gangl, this was a result of the close assessment of "the most recent developments around the war in Ukraine and sanctions that have been put in place."

The Freshfields team included Vienna-based Partners Farid Sigari-Majd, Karin Buzanich-Sommeregger, Stephan Denk, and Katharina Kubik, Counsel Gernot Fritz, Principal Associates Daniel Lungenschmid, Noel Zamani, Leonhard Prasser, Kathrin Wildmoser-Zeller, and Anna Binder-Gutwinski, and Associates Maria Tumpel, Estella Dannhausen, Luca Mischensky, and Can-Michael Nural, as well as lawyers from the firm’s Munich, Hamburg, Brussels, and Paris offices.

The Wolf Theiss team was led by Partner Horst Ebhardt and included Partners Robert Wagner, Kurt Retter, Karl Binder, Erik Steger, Janos Toth, Ileana Glodeanu, Richard Clegg, Natasa Lalovic, Sarah Wared, Luka Tadic-Colic, Markus Bruckmuller, Robert Pelikan, Marika Lomashvili, and Niklas Schmidt, Counsels Flaviu Nanu, Bruno Stefanik, Tereza Naucova, Zuzana Hodonova, Maciej Olszewski, and Melanie Dimitrov, Senior Associates Martina Edlinger, Christopher Junger, Harald Strahberger, Sandra Seldte, Martina Edlinger, Christopher Junger, Katerina Kulhankova, Anna Schwamberger, Dorothea Rauchegger, Isabel Firneis, and Marietta Molnar, and Associates Rahim Rastegar, Paul Yulu, Kristian Yabalkarov, Sophie Weber, and Pascal Gstoettner.

The Savoric & Partners team included Senior Partner Boris Savoric and Partner Lovro Gasparac.

The Filip & Company team was led by Partner Alexandru Birsan and included Associates Simona Ungureanu and Lavinia Cazacu.

The Borealis in-house team was led by interim General Counsel Sandra Muller.

Editor's Note: After this article was published, the Koutalidis law firm announced it had advised Agrofert on Greek law-related issues.

PRK Partners at a Glance

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com