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Freshfields advises Aurubis AG on partial sale of flat rolled products segment

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Aurubis AG on the sale of foreign group companies in Italy, the UK, the Netherlands, Slovakia and the United Arab Emirates to KME SE, part of the Italian Intek Group. With this partial sale of the flat rolled products segment, Freshfields is assisting Aurubis AG in focusing more strongly on its core business consisting of primary copper production, recycling and the multi-metal portfolio.

Aurubis AG is a listed (regulated market; MDAX) global leader in non-ferrous metals specialising in copper recycling. Founded in 1866 and headquartered in Hamburg, Aurubis AG employs approximately 7,200 people in over 20 countries on three continents and has a market capitalisation of approximately 4.5 billion euros. KME SE is one of the world's leading manufacturers of copper and copper alloy products.

The comprehensive legal advice provided by Freshfields included, in particular, advising on individual aspects of the due diligence, assisting with the structuring of the transaction, negotiating a detailed term sheet which pre-dates the company purchase agreement and drafting and negotiating the transaction documentation, together with coordinating local legal advice in the relevant jurisdictions.

The closing of the transaction is subject to certain conditions, in particular clearance by the relevant antitrust authorities and is expected to take place in the coming months.

The international Freshfields team included:

  • Partner: Christoph H. Seibt (Corporate/M&A, Hamburg; lead); Tobias Klose (Antitrust, Düsseldorf); Alexander Schwahn (Tax, Hamburg); Klaus-Stefan Hohenstatt (People and Reward, Hamburg); Stephen A. Hewes (Corporate, London), Peter Clements (Tax, London); Brechje Nollen (People and Reward, Amsterdam); Nicola Asti (Corporate, Milan)
  • Counsel: Sascha Arnold (Regulatory, Hamburg); Uwe Salaschek (Foreign direct investment, Berlin)
  • Principal Associates: Maximilian Stöwahse and Aljosha Barath (Corporate/M&A, Hamburg); Susanne Zimmermann (Antitrust, Düsseldorf); Jan Hobus (Tax, Hamburg); Bert Spijkervet and Marlies De Wilde (Corporate/M&A, Amsterdam)
  • Associates: Cosmas Weigel (Corporate/M&A, Hamburg); Alexander Harrer (Foreign direct investment, Düsseldorf); Andrea Strackerjan and Jan Kothe (Tax, Hamburg); Lara Steinbach (Foreign direct investment, Berlin); Kaspar De Rycke (Corporate/M&A, Brussels); Panashe Jinga (Corporate, London); Babette Koning (People and Reward, Amsterdam); Veronica Ferro (Corporate, Milan)

Further lawyers from the Stronger Together network support the team.

On behalf of Aurubis AG, the transaction was legally advised by Björn Carsten Frenzel (General Counsel) and Marte Renzing (Director Corporate Legal Affairs).