Jeantet advises GEA in negotiations for sale of French industrial site
Paris, on June 25, 2018
As part of its “Global Manufacturing Footprint Program”, GEA intends to sell the group entity Westfalia Separator Production France SAS including the company’s owned production sitein Château-Thierry (Hauts-de-France region). The French industrial group Altifort has now submitted a binding offer.
On this basis, GEA and Altifort will now enter into exclusive negotiations. The information and consultation procedure involving the employee representative bodies will be carried out. To enable a smooth transition for all parties, a transitional period of up to two years could be agreed by the parties with GEA ensuring the purchase of relevant production services from the site. Completion of the transaction could occur as early as the third quarter of 2018.
The Düsseldorf-based GEA Group Aktiengesellschaft is one of the largest international suppliers for the food processing industry and a wide range of other industries that generated consolidated revenues of approximately EUR 4.6 billion and employed about 18,000 people in 2017. Listed on the German MDAX and included in the the MSCI Global Sustainability Indexes, GEA generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth.
Altifort group is a European-based international industrial player, specializing in fluids (Altifluid) and the mechanical industry (Altimotion). By taking over high-potential industrial companies; and by innovation, developing most advanced products and services Altifort Group aims to employ more than 1,000 people and to achieve an estimated 140 M€ in sales by the end of 2018.
GEA is being advised by Jeantet’s Franco-German M&A Team with Karl Hepp de Sevelinges (Partner), Michael Samol (Counsel), Ruben Koslar (Associate, all Corporate/ M&A) and Deborah David (Partner, Labor Law).
Jeantet’s Franco-German M&A Team headed by Karl Hepp de Sevelinges regularly advises German-speaking clients in their transaction in France and French clients in their projects in German-speaking countries.
Altifort is being advised by Delsol Avocats with Emmanuel Kaeppelin (Partner), Raphaël Ory und Caroline Da Lage (all Corporate/ M&A).
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