Ashurst has advised VR Equitypartner GmbH and Süd Beteiligungen GmbH (SüdBG) on the financing of the takeover of DUO PLAST AG. The two private equity firms have jointly acquired the majority in the packaging manufacturer from its founder, CEO and hitherto main shareholder, Norbert Jäger. The transaction still requires antitrust approval. The parties have agreed not to disclose the financial details of the transaction.

The Ashurst team was led by Munich finance partner Dr Bernd Egbers, assisted by senior associate Carsten Endres, associate Isabell Pöller and paralegal Anna Zoth. Frankfurt-based partner Heiko Penndorf advised on tax aspects.

VR Equitypartner is a joint subsidiary of DZ BANK and WGZ BANK. The company's portfolio currently comprises around 100 investments with an investment volume of €570 million. SüdBG is a 100 per cent subsidiary of Landesbank Baden-Württemberg (LBBW). Its portfolio currently comprises 50 companies with approximately €600 million invested capital.

DUO PLAST produces plastic films for the industrial, agricultural and food industries.