Schoenherr, working with Hogan Lovells in Germany, has advised S&T on a voluntary partial public takeover offer by Grosso Tec. EY Law advised Grosso Tec.
"On March 21, 2021, the bidder Grosso Tec published a voluntary public partial takeover offer to the shareholders of S&T to acquire up to 5.5 million bearer shares at a price of EUR 15.30 (cum dividend) in cash per S&T share, which could be accepted until April 5, 2022," Schoenherr informed. "The acquisition of the tendered shares by Grosso Tec was settled on April 13, 2022. As the partial offer was not subject to the application of the Austrian Takeover Act or the German Securities Acquisition and Takeover Act, the Executive Board of S&T published a voluntary statement regarding the partial takeover offer on March 24, 2022."
S&T is an Austrian technology group and hardware and software products provider listed on the Frankfurt Stock Exchange. The group is present in 32 countries with over 6,000 employees.
Grosso Tec is a German company investing in European tech companies in all stages of their lifecycle.
The EY Law team consisted of Partner Mario Gall, Senior Associate Georg Harer, Attorney-at-Law Zurab Simonishvili, and Associates Alexander Glaser and Christina Tober.
The Hogan Lovells team included Frankfurt-based Partner Michael Schlitt and Associate Leon Lindermann and Munich-based Partner Lutz Angerer and Counsel Thomas Weber.