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19/12/2013

CMS Hasche Sigle advises AkzoNobel on transaction

CMS Hasche Sigle advises AkzoNobel on transaction

Düsseldorf – AkzoNobel has agreed the sale of 69 of its 72 specialist paint stores to five inde-pendent wholesalers and their subsidiaries. Some of the stores and employees will transfer to the new owners (Schlau Hammer, MEG Rhein Ruhr, MEG Paderborn, MEG West and Wei-gel) at the end of 2013 and some at the end of the first quarter of 2014. The purchase price was not disclosed.

A team led by employment law partner Dr Angela Emmert and Corporate partner Dr Ernst-Markus Schuberth advised AkzoNobel on all legal aspects of the transaction. The divestment and focus on the firm's core business as a brand-name manufacturer involves business transfers to each of the five distributors throughout Germany. It also requires extensive restructuring of AkzoNobel Deco GmbH with its current workforce of some 1,000 employees. The associated agreements were reached with the relevant employee representative bodies. They include agreement on socially responsible implementation and the necessary staff adjustments. CMS Hasche Sigle is continuing to provide support on employment law matters.

AkzoNobel has agreed strategic partnerships with the wholesalers, with arrangements in place to continue supplying paint to the businesses.

CMS Hasche Sigle

Leif Herzog, Corporate/M&A
Dr Ernst-Markus Schuberth, Corporate/M&A
Dr Angela S. Emmert, Employment
Caroline Wirtz, Employment

Press Contact
presse@cms-hs.com
Lawyers 
Leif Herzog LL.M. (Edinburgh), Dr. Ernst-Markus Schuberth, Dr. Angela Emmert, Caroline Siegel LL.M.
Press Release 
 PR_AkzoNobel_19_12_2013_en.pdf
Press Contact
   
Arndt Hellmann
Head of Public & Media Relations
T +49 30 20360 1208
E presse@cms-hs.com
 
   
Florian Bergmann
Public & Media Relations Manager 
T +49 30 20360 2274
E presse@cms-hs.com