UK-Based Essentra plc (Essentra) announced the sale of ESNT Packaging & Securing Solutions Limited and Essentra Packaging US Inc and their respective subsidiary companies to Austrian Mayr-Melnhof Group for a cash consideration of GBP 312 million, on a cash-free, debt-free basis and subject to customary adjustments. The transaction is subject to various conditions including a shareholder vote for Essentra.
Hengeler Mueller advised Essentra on the transaction in an integrated team with Best Friends firm Slaughter and May (partners Jeff Twentyman and Sally Wokes and team). The Hengeler Mueller team included partners Thomas Meurer (Corporate/M&A, Düsseldorf), Christian Hoefs (Employment, Frankfurt) and Matthias Scheifele (Tax, Munich), counsel Moritz Rademacher (Public Law, Düsseldorf) as well as associates Theresa Lauterbach (Munich), Anika Sonnenberg, Maxi Ludwig (both Düsseldorf) (all Corporate/M&A), Andreas Kaletsch (Employment), Sebastian Heinrichs (Tax) (both Frankfurt), Kira Fritsche (IP/IT) and Frederic Geber (Public Law) (both Düsseldorf).