Rödl & Partner advises Vorwerk on the acquisition of a 30 percent minority share in DEGRENNE

Wuppertal/Vire/Paris, 26 March 2019: Rödl & Partner advised the Vorwerk Group on its investment in Guy Degrenne SA ("DEGRENNE") via a capital increase of 15 million Euro at a subscription price of 0.23 Euro per share. An interdisciplinary M&A team from Rödl & Partner advised VORWERK on the legal, tax and financial aspects of the transaction. Alongside legal, tax and financial due diligence, Rödl & Partner also advised the buyer during negotiations and in drafting the transaction documentation as well as in the execution of the closing.

Following the capital increase, the main shareholder Diversita and VORWERK plan a joint squeeze-out on all shares held by minority shareholders. The effective completion of the squeeze-out is subject to the issuance of a compliance decision by the French financial markets authority, AMF. VORWERK is to hold 30% of DEGRENNE.

The investment by VORWERK will enable DEGRENNE to accelerate its recovery and in particular to invest into the modernisation of its historic production site in Vire, Normandy.

About VORWERK

The VORWERK Group is a family-owned company with global activities in the area of production and sale of high-quality household products. VORWERK is best known for the multi-functional kitchen appliance Thermomix.

About DEGRENNE

DEGRENNE is a high-end manufacturer of luxury tableware, including cutlery, porcelain dishes and stainless steel cookware as well as high-end metal appliances for industry clients such as VORWERK.

Advisers to VORWERK:

Rödl & Partner Paris – Legal, Tax, Financial

Nicola Lohrey, Managing Partner France (Legal Due Diligence, shareholder agreement and transaction documents)

Anne-Sophie Hebras, Attorney at Law (France), Associate Partner (Legal Due Diligence, shareholder agreement and transaction documents, closing)

Olivier Roussel, Partner (Financial Due Diligence, shareholder agreement and transaction documents)

Maximilian Egger, CFA, Associate Partner (Financial Due Diligence, shareholder agreement and transaction documents, closing)

Maximilian Lennertz, Associate (Financial Due Diligence)