Freshfields advises WACKER on the sale of Siltronic shares

Global law firm Freshfields advised Wacker Chemie AG on the successful sale of 2.1 million shares in Siltronic AG as part of a private placement. The stake sold represents 7% of Siltronic’s share capital and reduces WACKER’s stake in Siltronic to around 24%.

The gross proceeds for WACKER from the placement amount to around €188m. The shares were sold exclusively to qualified and international institutional investors as part of a private placement in the form of an accelerated book-building process. WACKER remains the company’s largest shareholder.

WACKER is a global company specialising in highly developed chemical products. The range of applications extends from tile adhesives to solar cells.

Freshfields advised WACKER comprehensively on capital markets, antitrust and corporate law matters.

The Freshfields team consisted of:

Lead: Christoph Gleske (Capital Markets, Frankfurt)

Partners: Barbara Keil (Munich), Stephan Waldhausen (Munich/Düsseldorf, both Corporate/M&A), Frank Montag (Brussels), Uwe Salaschek (Berlin, both Antitrust)

Counsel: Simon Stepper (Corporate/M&A, Munich)

Principal Associate: Michael Jaspers (Antitrust, Brussels)

Associates: Vincent Buchta, John Haviland (both Capital Markets, Frankfurt), Bianca Fuhrmann (Corporate/M&A, Munich), Lukas Goetz (Antitrust, Brussels)