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Clifford Chance, Ashurst, and Schoenherr Advise on Restructuring of Benteler

Clifford Chance, Ashurst, and Schoenherr Advise on Restructuring of Benteler

Czech Republic
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Clifford Chance, working with Latham & Watkins, has advised the steering committee of the credit financiers, including Commerzbank AG, DZ Bank AG, Erste Group Bank AG, Landesbank Baden-Wurttemberg, and Norddeutsche Landesbank, on the restructuring of the Benteler Group. Ashurst and Schoenherr advised Benteler on the deal.

Benteler Group is a family-owned company that employs approximately 28,000 workers in about 100 locations in almost 30 countries. The automotive supplier also manufactures steel products and tubes for industry customers. 

According to Clifford Chance, the restructuring “consisted [of a] full refinancing of the group's existing fragmented financing arrangements involving in total almost 120 different lenders and financing partners from various jurisdictions, which was transformed into a joint financing structure secured by a uniform pool of collateral shared among all lenders and financing partners.”

Clifford Chance’s team included Partner Milos Felgr, Counsel Tomas Richter, and Assocates Pavel Bogusky and Tereza Rehorova.

Schoenherr's team was led by Partners Peter Konwitschka, Martin Ebner, and Wolfgang Hoeller.

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu