Hengeler Mueller advises Broadview on public takeover offer for Westag & Getalit AG
23. May 2018
Broadview Holding B.V. through its indirect subsidiary Broadview Industries AG (together “Broadview”), today announced to make a voluntary public takeover offer to the shareholders of Westag & Getalit AG (“Westag”) to acquire all ordinary shares and all preference shares. The total offer value of the takeover offer amounts to EUR 31.00 per ordinary and preference share in cash. In addition, Broadview and the Gethalia Foundation – which owns 75.50 percent of the voting rights of Westag – signed an agreement for the purchase and transfer of all shares held by the Gethalia Foundation.
The holding company Broadview headquartered in s-Hertogenbosch, the Netherlands, is controlled by HAL Holding N.V., a listed international holding company. The current portfolio covers the industry clusters material technology, personal protective equipment and energy. The combined revenues amount to around EUR 450 m and the group employs approximately 1,400 FTE per the end of 2017.
Westag is a leading manufacturer of high-quality wood-based products for interior finishing and building construction. Founded in 1901, Westag is based in North-Western Germany and employs around 1,300 people. The company reported revenues of EUR 234.4 m in 2017.
Hengeler Mueller is advising Broadview on the transaction. The Hengeler Mueller team is led by partners Bernd Wirbel and Reinhold Ernst (both Corporate/M&A) and includes partner Thorsten Mäger (Antitrust), counsel Patrick H. Wilkening (IP) and Matthias Cloppenburg (Corporate/M&A) as well as associates Maximilian Schauf (Corporate/M&A), Anja Balitzki (Antitrust), Vicki Treibmann (Labour), Moritz Rademacher, Carsten Bormann (both Public Law/Regulatory) and Maximilian Wosgien (IP) (all Düsseldorf).