The Pfleiderer Group has received an accolade for outstanding restructuring efforts at Handelsblatt’s Restrukturierung 2016 event following its successful group reorganisation. The jury praised, in particular, the skills and professionality demonstrated by the advisors during the reorganisation process.
Gleiss Lutz advised Luxembourg-based Atlantik S.A. as shareholder of wood processing company Pfleiderer from the outset. Gleiss Lutz had already advised Altlantik, and to a certain extent Pfleiderer, on the takeover of Pfleiderer under an insolvency plan, its subsequent restructuring and the issue of a EUR 322 million bond as part of its refinancing. This year implementation of the innovative new group structure was finalised, largely completing the restructuring and realignment of the Pfleiderer Group: German group company Pfleiderer GmbH was fully acquired by its listed Polish subsidiary Pfleiderer Grajewo as part of a reverse takeover. The acquisition was financed by means of a capital increase involving new shares being issued by Pfleiderer Grajewo as part of its re-IPO on the Warsaw stock exchange. Dr. Andreas Spahlinger, head of Gleiss Lutz’s Restructuring group commented: “We are pleased by the market’s recognition of the highly complex and successful restructuring of Pfleiderer and that Pfleiderer Group has managed to relist within approx. three years. We provided continuous support to Atlantik, and to a certain extent to Pfleiderer, during this process, offering pragmatic, commercially minded and innovative legal advice throughout.”
The matter fits well into the string of key restructuring and insolvency cases in Germany in which Gleiss Lutz’s widely renowned restructuring team is regularly involved. Gleiss Lutz advised on the restructuring of Suhrkamp, Solarworld and centrotherm, to name only a few. Most recently, Gleiss Lutz was honoured at the IFLR European Awards and the American Lawyer Global Legal Awards for advising on the restructuring of Apcoa and IVG Immobilien AG.
Atlantik (and Pfleiderer GmbH) were advised by the following Gleiss Lutz partners: Dr. Andreas Spahlinger, Dr. Matthias Tresselt (both partners restructuring, Stuttgart) as well as Dr. Maximilian von Rom, Dr. Helge Kortz, Dr. Kai Arne Birke, Dr. Stephan Aubel, Dr. Eva Reudelhuber, Frank Schlobach (all partners, banking and finance), Dr. Stefan Mayer (partner, tax, all Frankfurt), Dr. Johann Wagner (partner, tax), Dr. Patrick Mossler (partner, M&A, both Hamburg) as well as Dr. Martin Raible (partner, competition/antitrust, Düsseldorf).
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