Boyanov & Co has advised Borealis on the Bulgarian aspects of the sale of its indirect shareholding in Neochim to Agrofert. Wolf Theiss advised Agrofert.
Borealis is a subsidiary of the Austrian OMV. Neochim is a Bulgarian producer and trader of inorganic and organic chemical products, including fertilizers.
Agrofert is a Czech-based group active in a number of industries in Central Europe, with activities spanning from chemicals and agriculture to food production.
According to Boyanov & Co, “the transaction was part of the global divestment of Borealis AG of its nitrogen business including fertilizer, melamine, and technical nitrogen products. Agrofert’s acquisition of Borealis’ nitrogen business, with their long-term commitment to further develop the fertilizer business, is to the best advantage for the security of supply in Austria and Europe, as well as for all impacted employees.”
This transaction is part of a larger deal within which Agrofert acquired Borealis’ nitrogen business, including production assets in Austria, Germany, and France (as reported by CEE Legal Matters on June 15, 2022).
The Boyanov & Co team was led by Counsel Mihail Vishanin.
The Wolf Theiss team included Vienna-based Partners Horst Ebhardt and Robert Wagner, Counsels Harald Strahberger and Maciej Olszewski, Senior Associates Gregor Grablowitz, Martina Edlinger, and Sandra Seldte, and Associates Jessica Kerber and Sophie Weber; Sofia-based Counsel Katerina Novakova, Senior Associate Yanitsa Radeva, and Associate Boryana Filimonova; and further team members in Germany, France, and Italy.