Frankfurt, Germany, 8 August 2013 - Baker & McKenzie advised Sika AG on its offer for AkzoNobel's building adhesives segment. Sika submitted a binding offer of EUR 260 million to acquire the building adhesives business of the Dutch company AkzoNobel.
With annual sales of approximately EUR 185 million and 550 employees, AkzoNobel Building Adhesives branch is one of the top three suppliers in the European market. The transaction is expected to be completed in the fourth quarter of 2013.
"With this acquisition, our client strengthens its product portfolio for indoor construction applications in the target markets flooring, sealing & bonding and refurbishment. The offer is binding, and we are confident that nothing stands in the way of a successful transaction. In this transaction, our broad international and professional structure has once more proven to work in the best interest of our client Sika," commented Dr. Florian Kästle, corporate partner at Baker & McKenzie.
The building adhesives business of AkzoNobel has a strong focus on the premium segment through its leading brands Schönox, Cégécol, Casco, Synteko and EriKeeper. With two production sites in Germany and France and a pan-European distribution network with nine distribution centers, it supplies its customers with successful and highly innovative products.
Sika AG, located in Baar, Switzerland, is a globally operating company with 124 locations in 80 countries. Sika caters to building and manufacturing industries. It focuses on the automotive, appliance and building component production. The company is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. With 15 233 employees, Sika generated a consolidated turnover in 2012 of CHF 4 829 million.
The corporate/ M&A team of Baker & McKenzie regularly advises strategic investors on transactions and restructurings. Most recently, Baker & McKenzie advised HOCHTIEF on the sale of its Service Solutions division to the SPIE Group, MAHLE on the acquisition of Behr, TVH on the purchase of mateco and the Karl Schlecht Foundation on the sale of Putzmeister.
Legal Advisor Sika AG:
Baker & McKenzie
Lead:
Corporate/M&A: Dr. Florian Kästle (Partner)
Team:
Corporate: Dr. Nikolaus Reinhuber (Partner), Tilman Wink (Counsel), Matthias Bassüner (Associate, all Frankfurt)
Corporate/ Real Estate: Dr. Florian Thamm (Partner, Düsseldorf), Holger Engelkamp (Associate, Berlin)
Corporate/ Commercial: Katharina Spenner (Partner, Munich), Heiko Carsten Franke (Associate, Frankfurt)
Employment: Dr. Christian Reichel (Partner), Dr. Lena Kern (Associate, both Frankfurt)
IP: Dr. Michael A. Fammler (Partner, Frankfurt), Dr. Andrea Schmoll (Partner, Düsseldorf), Wojciech Kreft (Associate, Frankfurt)
IT: Dr. Holger Lutz (Partner), Dr. Michaela Weigl (Associate, both Frankfurt)
Public Law/ Environment: Dr. Julia Pfeil, Dr. Roman Michalczyk (Both Associates, Frankfurt)
Antitrust law: Dr. Nicolas Kredel (Partner, Dusseldorf), Sarwenaz Kiani (Associate, Frankfurt)
The deal also included Baker & McKenzie lawyers from our offices in Paris, Prague, Stockholm, Amsterdam and Warsaw.
