Gleiss Lutz has advised the listed Swiss firm of Conzetta AG on the divestment of its glass processing segment to Glaston Corporation, a listed company headquartered in Helsinki, Finland for some EUR 68 million. The transaction is subject, among other things, to the customary regulatory approvals.
Conzetta’s glass processing segment (Bystronic glass) is highly complementary to Glaston’s activities. In 2017 Bystronic glass generated net sales of EUR 107 million (CHF 119 million) with innovative solutions for the processing of architectural and automotive glass. Together, the two companies will form a significant player in the glass machinery business by integrating important elements of the value chain. The extensive portfolio ranges from tempering and laminating through to the manufacture of insulating glass and glass handling, together with related services.
Conzzeta is a broadly diversified Swiss group with more than 5000 employees across 60 locations worldwide operating in the following segments: sheet metal processing, foam materials, graphic coatings, sporting goods and glass processing.
The Gleiss Lutz team headed by Dr. Adrian Bingel (partner, lead) and Johann Schrägle (counsel, both corporate/M&A, Stuttgart) comprised Dr. Markus Martin, Oliver Wolf (both corporate/M&A, Stuttgart), Dr. Achim Dannecker (partner), Dr. Hanna Datzer (both tax, Stuttgart), Dr. Matthias Karl (partner) and Dr. Johannes Hertfelder (both competition/antitrust, Stuttgart).