Tue, Aug
43 New Articles

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

Deals and Cases
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

Croatian Knowledge Partner

Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

All News about, and Legal Analysis by, Čipčić-Bragadin Mesić & Associates can be found here.

Firm's website: cipcic-bragadin.com


Our Latest Issue