Gleiss Lutz is advising Luxembourg-based Atlantik S.A. as sole shareholder of wood processing company Pfleiderer on the reorganisation of its group structure. Atlantik acquired the Pfleiderer Group in 2012 in insolvency plan proceedings, assuming a large portion of its debt as part of the deal. In addition to its German operations, the Pfleiderer Group includes a majority participation in the listed Polish subsidiary Pfleiderer Grajewo S.A.
The planned reorganisation on which Gleiss Lutz is advising will make use of an innovative reverse takeover structure in which Pfleiderer GmbH will be fully acquired by Pfleiderer Grajewo. The acquisition is to be financed by the Polish company through a capital increase and the issue of new shares as part of a re-IPO. It also involves a private placement of existing shares. Following the reverse takeover Atlantik will hold approx. 25 percent of shares in the new parent company Pfleiderer Grajewo S.A.
The following Gleiss Lutz team is advising Atlantik (and Pfleiderer GmbH on financing issues): Dr. Maximilian von Rom (lead), Dr. Helge Kortz, Dr. Kai Arne Birke, Dr. Stephan Aubel, Dr. Eva Reudelhuber (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), Dr. Andreas Spahlinger, Dr. Matthias Tresselt (both partners, restructuring, Stuttgart), Dr. Martin Raible (partner, competition/antitrust, Düsseldorf), Frank Schlobach, Dr. Jan-Alexander Lange, Domingo de Prada, Nikolos Tsagareli (all banking and finance, Frankfurt), Franziska von Hutten-Langlotz, Dr. Daniel Heck (both M&A, Hamburg), Dr. Micha-Manuel Bues (Munich), Peter Lepper (Düsseldorf, both competition/antitrust).
Gleiss Lutz has advised Atlantik extensively so far on the restructuring of Pfleiderer and the issue of a bond worth EUR 322 million.
Gleiss Lutz’s restructuring practice is regularly involved in key restructuring and insolvency cases in Germany. Most recently it has advised on the restructurings of Suhrkamp, Solarworld and centrotherm. At this year’s IFLR European Awards and American Lawyer Global Legal Awards the practice was lauded for its restructuring of Apcoa and IVG Immobilien AG. Gleiss Lutz has continuously expanded it finance practice over the past few years, most recently through the lateral hire of finance expert Dr. Eva Reudelhuber.
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