PwC Legal advises DIHAG Holding GmbH on the acquisition of shares in Belgian steel and iron foundry Allard-Europe
Frankfurt am Main, February 17th 2016.
PwC Legal advised DIHAG Holding GmbH, based in Essen, Germany, on the acquisition of shares in the Belgian steel and iron foundry Allard-Europe NV. The shares were acquired as part of a joint venture with Royal IHC, a Dutch company specialising in shipbuilding and equipment for maritime construction. DIHAG Holding GmbH now holds a 60% share of Allard-Europe NV, with Royal IHC holding the remaining 40%. The transaction has already been approved by the relevant antitrust authorities.
PwC Legal advised DIHAG on the due diligence and on the drafting and negotiation of the SPA. During the transaction, the team closely worked together with colleagues from the Belgian law firm of the PwC Legal network as well as with transactions services and tax experts from PricewaterhouseCoopers AG Wirtschaftsprüfungsgesellschaft, in Germany and from PricewaterhouseCoopers Belgium.
DIHAG Holding GmbH, headquartered in Essen, Germany, holds ten long-standing foundries in Germany and abroad. The product portfolio includes specialist castings for wind turbines, components for power plants and transmission cases for mechanical engineering. The company also manufactures large-diameter ship propellers and brake shoe blocks for rail transport. In 2015, DIHAG Holding GmbH reported sales of €355 million. The company supplies customers in 50 countries around the world and employs 1,700 people at 11 locations.
Royal IHC (IHC), headquartered in Sliedrecht, the Netherlands, specialises in the design and construction of ships and equipment for offshore construction. The company’s customer base includes oil and gas corporations, offshore contractors and government authorities. With 3,000 employees worldwide, Royal IHC serves customers on every continent.
Allard-Europe NV is a steel and iron foundry in Turnhout, Belgium, and produces high-grade, wear-resistant components in one-off castings and low-volume production runs. Weighing up to 40 tonnes, the castings are used in excavators, ships and wind turbines. The company also supplies customers in the metal industry and the offshore sector. Allard-Europe currently employs around 100 people.
Advisors for DIHAG Holding GmbH:
PwC Legal (Düsseldorf):
Dr Robert Manger, Dr Kai Sebastian Staak (both team lead), Kristina Fliege (all Corporate/M&A), Hubertus Kleene (Antitrust law)
PwC WPG AG (Düsseldorf):
Anja Trimborn, Carsten Schaefer, Florian Rüller (all M&A Tax);
Andreas Koletzko, Til Beckmann (both Transaction Services)
LawSquare BCVBA Attorneys Brussels (Law firm of the PwC Legal network in Belgium):
Pierre Queritet, Ive Sernells (both Corporate/M&A)
PwC Belgium BCVBA:
Lieven Adams (Finance)
Nancy de Beule, Florian Jacobfeuerborn, Michael Versyck (all Tax)
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