GLV Inc. mandated CHSH Cerha Hempel Spiegelfeld Hlawati to structure the transaction and prepare the takeover offer made to the shareholders of Christ Water Technology AG. The Canadian water technology group intends to acquire 100% of the Austrian water treatment company Christ Water Technology AG for EUR 65.8 million.
GLV Inc., a company listed on the Toronto Stock Exchange, is a leading global provider of technological solutions used in water treatment, recycling and purification, as well as in pulp and paper production. Through the voluntary takeover offer published on 13 October 2009, GLV is seeking to acquire up to 100% of the shares of Christ Water Technology AG at a price of EUR 3.35 per share.
The takeover has the support of the company’s biggest shareholder, the WAB Trust (approximately 27%), and Andreas Weißenbacher, member of the Supervisory Board of Christ Water Technology AG. The successful conclusion of the transaction is primarily subject to the condition precedent that 90% of the shareholders of Christ Water Technology AG must accept the offer. GLV Inc. assumes the transaction will be concluded by December 2009.
CHSH provided GLV with comprehensive expertise
During the transaction, GLV Inc. was advised by CHSH Partners Peter F. Hoffmann, Albert Birkner and Volker Glas, Attorney-at-law Hasan Inetas, and Associates Gerd Leser and Irene Eckart. The team structured the transaction and prepared the takeover offer, as well as all associated agreements.