wolf theiss advises slovenian … · heineken was advised by the dutch firm de brauw blackstone...
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ALBANIA AUSTRIA BOSNIA & HERZEGOVINA BULGARIA CROATIA CZECH REPUBLIC HUNGARY POLAND ROMANIA SERBIA SLOVAK REPUBLIC SLOVENIA UKRAINE
PRESS RELEASE
WOLF THEISS ADVISES SLOVENIAN BREWERY PIVOVARNA LAŠKO ON ITS
EUR 223 MILLION SALE TO HEINEKEN
Vienna, Ljubljana – 16 April 2015 – A majority stake in the leading
Slovenian brewery Pivovarna Laško has been sold to the Dutch global
giant Heineken. International law firm WOLF THEISS advised Laško
throughout the nearly one year process.
Four bidders participated in the final round of negotiations which took place in
Wolf Theiss' Ljubljana office. Heineken's winning offer of EUR 25.56 per share
resulted in a total transaction value of EUR 223.6 million. Nine investment funds,
banks and other entities were among the selling group, including the Slovenian
state-owned "bad bank" BAMC. Closing of the transaction is subject to
competition office clearance and other conditions.
Markus Bruckmüller, the Managing Partner of Wolf Theiss' Ljubljana office and its
transaction lead, explained that the stock sale arose out of a complex financial
restructuring with Laško's lender group that was completed last year. Wolf Theiss
also played an active role in that restructuring. Laško's existing EUR 200 million
debt will be refinanced at closing which is expected to occur in the second half of
this year. Bruckmüller commented: "This deal has been a real marathon for our
Wolf Theiss team, Laško and all of the other participants. Over the course of many
months it has evolved in complexity and scope as we all sought the best solutions
for current demands and issues as well as Laško's long term sustainability.
Although the negotiations have indeed been intense and complex, we believe that
we arrived at the right place for everyone." Wolf Theiss senior associate Klara
Miletic, who assisted Bruckmüller throughout the transaction, added: "We
regularly advise Laško on its importand matters. For example, in addition to the
complex, multi-party 2014 financial restructuring, we also advised on the sale of
the Fructal subsidiary in 2011. But there is no doubt that the Heineken deal is very
special. The process essentially required Wolf Theiss Ljubljana to concurrently
negotiate and document this major transaction in our office with the full deal teams
WOLF THEISS Rechtsanwälte
Schubertring 6
1010 Vienna
Austria
T +43 1 515 10
F +43 1 515 10 25
www.wolftheiss.com
M.7459812.1 2
of each of the four bidders in order to get to an ultimate winner. We appreciated the opportunity to
once again step up to the challenge for Laško and are even more delighted with the successful
result."
Dušan Zorko, the CEO of Laško, noted the importance of the transaction to the company, its
employees and the greater Slovenian business community as well as his confidence in the
company's positive future with Heineken as its owner. He went on to say "For this important
matter we again turned to the Slovenian office of the Wolf Theiss law firm. The support we
received from their experienced team was truly outstanding and very much appreciated."
UniCredit served as the financial advisor of Laško and of the selling group. Legal advisor to the
sell side was Schönherr. Heineken was advised by the Dutch firm De Brauw Blackstone
Westbroek and the local firm Šelih & partnerji.
ABOUT WOLF THEISS
Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and
South-Eastern Europe with a focus on international business law. With 350 lawyers in 13 offices
located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary,
Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and
international industrial, trade and service companies, as well as banks and insurance companies.
Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on
the basis of legal, fiscal and business know-how.
www.wolftheiss.com
AWARD WINNING…
Law Firm of the Year: Austria 2014 (The Lawyer European Awards)
Law Firm of the Year: Central & Eastern Europe, 2014 & 2010 (The Lawyer European Awards)
Law Firm of the Year: Eastern Europe and the Balkans, 2015, 2012 & 2009 (The Lawyer European Awards)
Best in Austria Award, 2014, 2013 & 2012 (European Woman in Business Law Awards, Euromoney)
Best in Croatia Awards, 2014 & 2013 (European Women in Business Law Awards, Euromoney)
Best in Romania Awards, 2014 (European Women in Business Law Awards, Euromoney)
Best National Firm for Pro Bono Work, 2014 (European Women in Business Law Awards, Euromoney)
Austrian Law Firm of the Year, 2014, 2013, 2012, 2011, 2010 & 2009 (Who's Who Legal, IFLR - International
Financial Law Review; Chambers & Partners; PLC Which lawyer?; ILO - International Law Office)
Austrian Tax Law Firm of the Year, 2014, 2011, 2010 & 2009 (International Tax Review)
Energy Law Firm of the Year, 2012 (The Diplomat – Bucharest)
Austrian Client Service Law Firm of the Year, 2011 (Chambers & Partners)
ÖGV-Unternehmer, 2011 (Österreichischer Gewerbeverein)
First Place Winner Practice Development, 2011 (Your Honor Awards, Legal Marketing Association)
Law Firm of the Year, 2010 (Southeastern Europe Real Estate Awards, Europa Property)
Worldwide – Entertainment and Media Law Team of the Year, 2009 (World Leaders International IP Awards)
Czech Law Firm of the Year, 2010 (IFLR - International Financial Law Review)
Hungarian Law Firm of the Year, 2009 (IFLR - International Financial Law Review)
For a complete awards list please visit www.wolftheiss.com\AboutUs\Awards
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For further information please contact:
Georg Baldauf Public Relations & Communications Manager
Wolf Theiss Rechtsanwälte / Attorneys-at-Law
Schubertring 6, 1010 Vienna
Austria
Tel.: +43 1 51510 / 3808
E-Mail: [email protected]
Find out more at www.wolftheiss.com