LAWFUEL – The Law News Network – Allen & Overy is advising the sellers of the Eckart group, the German-based speciality chemicals company, on its €630 million acquisition by Altana, the German chemical and pharmaceutical DAX-30 company.
Eckart is a world leader in the production of effect pigments for applications such as metallic and pearlescent paints, printing inks, plastics and cosmetics. It employs 1,850 staff worldwide and has a long family tradition. The sale to Altana is the result of an auction process and is subject to regulatory approval.
The Allen & Overy team includes partners Dr. Hartmut Krause (Frankfurt), Dr. Oliver Seiler (Frankfurt), Eugen Bogenschütz (Frankfurt, tax), Dr. Ellen Braun (Hamburg, antitrust) and Michael Jahnke (New York, antitrust) as well as associates Matthias Horn, Dr. Sven Prüfer (Frankfurt), Dr. Bettina Enderle (Frankfurt, environmental), Dr. Jan Tolkmitt (Hamburg, antitrust), Marcus Hierl and Tobias Ackert (Frankfurt, tax) as well as Elisabetta Gardini (Milan, environmental) and Todd Fishman (New York, antitrust).
Hartmut Krause comments: “The transaction is a big step forward for everybody involved. For the family owners, Altana is the ideal purchaser because Altana will continue and expand the business. We are delighted that the family owners rely on our expertise to advise on the complex legal issues of the sale and the auction process.”
Oliver Seiler adds: “We experienced a thrilling auction process which we brought to a successful close with Altana in a very short period of time. Our M&A practice is ideally positioned to advise on the auctioning of international players of different industries in complex auction procedures.”