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DGAP-News: Ashurst and Willkie Farr & Gallagher advised on restructuring the SGD Group and the acquisition of a majority stake by Oaktree

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P R E S S E I N F O R M A T I O N
Ashurst and Willkie Farr & Gallagher advised on Restructuring of the SGD Group and the acquisition of a majority stake by Oaktree
Frankfurt, [..]. February 2010 — Ashurst and Willkie Farr & Gallagher, who as part of the successful restructuring of French SGD group (formerly advised Saint-Gobain Desjonquères). While Ashurst, the senior lender and the Committee of Senior creditors legally accompanied Willkie advised the U.S. Investment company, Oaktree Capital Management Ltd. in the takeover of a Majority stake in the worldwide leader manufacturer of glass bottles for the perfume and pharmaceutical industries.
The Frankfurt Ashurst team was led by International Finance partner Anne Force conducted and included in addition to tax partner Klaus Herkenroth the Senior Associates Dr. Malte Strüber (Tax) and Miriam Petri (International Finance), Associate, Dr. Werner Gumpp (International Finance, all Frankfurt) and Dr. Hubertus Schroeder Associate (Corporate, Restructuring & Turnaround, Munich / London). One of the partners Mabilat Laurent, Jean-Pierre Farges Bertrand Delaunay and led team from Paris covered the aspects of French law Restructuring Process.
The international Willkie team including the beach resorts Paris, Frankfurt, New York and London by partner Eduardo Fernandez Run (Corporate Finance, Paris) and consisted of the Paris partners Alexandra Bigot and Maurice Lantourne (Restructuring), Annette Péron (Financing), David Tayar (antitrust), and Cédric Hajage (Corporate) and the Frankfurt Willkie team with Jan Wilms (Acquisition finance), Dr. Patrick Meiisel (Tax) and Mario Schmidt (Corporate Finance, Private equity) and William Hiller (Finance, New York).
Between the senior creditors, Oaktree and SGD negotiated restructuring agreement provides inter alia that:
– A reduction of SGD in the initial Leveraged
buy-out included bank debt by 63 percent to 225
Million.
– The margin of equity amounting to 40 million euros and
– The supply of ‘new money’ in the form of additional Credit lines
SGD.
As part of the restructuring of Oaktree acquires a Debt for equity swap about 80 percent of the shares of SGD group. The remaining 20 percent are held by a pool of senior lenders. In March 2007 had the private equity firms Cognetas and Sagard the SGD majority of Saint-Gobain acquired.
The French SGD Group is a global leader in Manufacture of glass containers for perfumes, cosmetics and Pharmaceutical industry. SGD annually produces more than 3 billion bottles and 2008 achieved a turnover of 632 million euros. The group employs 6,000 people in Russia, France, Germany, Italy, Brazil, China and the United States. A major focus of the operational Business is in Germany.
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Ashurst Press Contact: Markus Kuhn, T: +49 (0) 69 97 11 26 15, E: markus.kuhn @ ashurst.com
Willkie Press Contact: Mario Schmidt, Tel: +49 (0) 69 79 302 190, mschmidt@willkie.com
Information about Ashurst LLP
Since its founding in 1822 has become one of Ashurst LLP leading international law firms in the Economic and Corporate law developed. The firm has offices in Abu Dhabi, Brussels, Dubai, Frankfurt, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Singapore, Stockholm, Tokyo and Washington represented and employs more than 1,000 lawyers.
Ashurst in Germany since 1997 in Frankfurt and since May 2001 Munich active. The firm is in the following Business Issues specialized:
Corporate: Mergers & Acquisitions, Private Equity, Corporate Finance & Equity Capital Markets and advising public companies, Restructuring and Special Situations
International
Finance: Acquisition finance, bonds, Credit-linked notes, asset-backed securities, CDO’s / CBO’s / CLOs, regulatory law, Investment Law, derivatives, leasing
Real Estate: Real estate transactions grundstücksbezogene Contracts and rights, commercial leases, real estate, Real estate funds and joint ventures, asset management, private and Public Construction Law.
Commercial: Labor Law, Intellectual Property and Copyright (IP), media and film law, IT law, pharmaceutical and Food law, competition law and antitrust law, procurement, environmental and Construction and safety law and environmental law, infrastructure projects, Sports Law
Tax: acquisition structures, financial products, fund concepts
Litigation /
Arbitration: Disputes in M & A and private Equity transactions, IPOs and capital investments as well as from Infrastructure projects, product liability, international judicial and Arbitration
For more information, please visit: www.ashurst.com
Ashurst LLP and its affiliated law firms operate under the name Ashurst. Ashurst LLP is a partnership with limited liability under English law. It is registered in the Companies House for England and Wales under number OC330252 and is subject including the rules of the Solicitors Regulation Authority of England and Wales. The term "partner" means the partners of Ashurst LLP and its employees or consultants with the appropriate status and equivalent qualification. For more information about Ashurst LLP and related sectors affiliated societies, see www.ashurst.com.
Ashurst LLP and its affiliated partnerships are with Offices in Abu Dhabi, Brussels, Dubai, Frankfurt, London, Madrid, Milan, Munich, New York, Paris, Singapore, Stockholm, Tokyo and Washington, DC represented.
About Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP is an international Law firm with more than 750 lawyers with offices in New York, Washington, Paris, London, Milan, Rome, Frankfurt and Brussels. The The firm is headquartered in New York, 787 Seventh Avenue. In Alliance with Dickson Minto W.S., London, Edinburgh.
For more information, see www.willkie.com
04.03.2010 15:36 Ad-hoc news, financial news and Press releases transmitted by DGAP. Media archive at http://www.dgap-medientreff.de and http://www.dgap.de
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Language: German Company: Willkie Farr & Gallagher LLP
Senckenberganlage 16
60325 Frankfurt am Main
Germany Internet: http://www.willkie.com/firm/office_detail.aspx?id =
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