Mon, Jan
72 New Articles

Wolf Theiss, Clifford Chance, and Slaughter and May Advise on Blackstone's Acquisition of CRH's European Distribution Unit

Wolf Theiss, Clifford Chance, and Slaughter and May Advise on Blackstone's Acquisition of CRH's European Distribution Unit

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Wolf Theiss worked with lead counsel Clifford Chance in advising the Blackstone Group on its EUR 1.64 billion acquisition of CRH's European distribution business. Slaughter and May advised CRH on the transaction, which remains subject to regulatory approval.

In addition, Niederer Kraft Frey and ARQIS acted as Swiss and German counsel to CRH, respectively.

CRH sold its entire General Builders Merchants business in Europe, including its Sanitary Heating and Plumbing business, which supplies building materials to professional builders, specialist contractors, and DIY customers through a network of local and regional brands across six countries in Western Europe. 

Dublin-based CRH manufactures and distributes construction products, such as heavy materials and elements to construct the frame and value-added exterior products. CRH products serve in the areas of residential, non-residential, and infrastructure. The company operates in 32 countries. According to CRH, the divestment to Blackstone concludes its exit from the distribution business in Germany, France, Switzerland, and Benelux, “creating a simpler and more focused business.”

The Blackstone Group is an investment company with a focus on real estate, hedge funds, private equity, leveraged lending, senior debts, and rescue financing. The company is headquartered in New York and operates in the UK, Hong Kong, the UAE, China, Denmark, Germany, Luxemburg, Spain, Italy, India, France, South Korea, Australia, Singapore, and Japan.

Wolf Theiss's Austrian team was led by Partner Sarah Wared, supported by Partners Horst Ebhardt, Guenter Bauer, Holger Bielesz, Birgit Kraml, and Matthias Unterrieder, Senior Associates Markus Taufner, Paulina Pomorski, and Florian Pechhacker, and Associates Vilma-Reeta Kivilahti, Michael Kienzl, Clemens Pretscher, Simona Shpilsky, Stefan Horn, and Agnes Steinberger.

Clifford Chance's London-based team was led by Partners Spencer Baylin and Christopher Sullivan, supported by Partners Graham Phillips, Jenine Hulsmann, and Clare Hoxey, Senior Associates Barry Cahill, Oliver Marcuse, Jennifer Storey, and Greg Scott, and Associates Jorge Martin, Calvin Yang, and Shimin Lee. 

The Slaughter and May team was led by Partners Jeff Twentyman and Murray Cox, assisted by Partners Claire Jeffs and Sara Luder, Associates Paul Thorpe, Dennis Mok, Emily Hunter, Katie Whiteman, Stephen Heagney, Chris Sharpe, and Edward Creamer, Visiting Lawyer Willem Bijveld, and Trainees Gabriel Lim, Rachel Rourke, Sophie Winton, and Robert Longman. 

The Niederer Kraft Frey team was led by Partner Philipp Haas and included Partners Andreas Vogeli, Nicolas Birkhauser, Valerie Meyer Bahar, and Daniela Schmucki, Counsel Elga Reana Tozzi, and Associates Julia Tolstova, Paolo Bollini, Nicole Gutling, Shu Bernet-Zhang, and Anne Huber.

The ARQIS included Attorney-at-Law Jorn-Christian Schulze.

Editorial Note: After this article was published Schoenherr informed CEE Legal Matters that it had worked alongside Slaughter and May in advising CRH, and that its team consisted of Partners Christian Herbst and Michael Woller, Counsel Maximilian Lang, Attorneys-at-Law Constantin Benes, Teresa Waidmann, and Marco Thorbauer, and Associates Maximilian Nutz and Nina Zafoschnig.

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