HEUKING advises Deutsche Steinzeug group on sale to Meta Wolf AG
June, 2024 - Germany
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HEUKING advises Deutsche Steinzeug group on sale to Meta Wolf AG
A HEUKING team led by Partners Prof. Dr. Georg Streit, Dr. Marc Scheunemann, and Dr. Ulrich Jork advised insolvent companies Deutsche Steinzeug Cremer & Breuer AG and AGROB BUCHTAL GmbH on legal and tax matters in relation to their sale to Meta Wolf AG. The transaction encompasses both domestic and international subsidiaries. Notarization occurred overnight from June 13 to 14, 2024. Closing is contingent upon the fulfillment of specific conditions and is anticipated to be completed in Q3/2024. The takeover agreement is set to secure more than 700 jobs.
Deutsche Steinzeug Cremer & Breuer AG specializes in the development and production of ceramic covering materials, including tiles for the sanitary and kitchen sectors, swimming pools, exterior facades, and floor coverings for key accounts. The company anticipates sales of about EUR 100 million for fiscal 2024, with exports accounting for over 40%.
Meta Wolf AG, formerly Muehl Product & Service AG, is a Germany-based supplier of materials for the construction industry. The company emphasizes digitalization, decarbonization, electrification, and decentralization within the industry. It operates in Germany, China, Singapore, and India.
The HEUKING team continues to represent the sellers in the insolvency proceedings for Deutsche Steinzeug Cremer & Breuer AG and AGROB Buchtal GmbH. The firm has been retained by the companies’ self-administrators and general representatives, Detlef Specovius and Michael Böhner from Schultze & Braun. Dr. Biner Bähr of White & Case is overseeing the proceedings as the court-appointed insolvency trustee.
Counsel to Deutsche Steinzeug Cremer & Breuer AGHEUKING:Prof. Dr. Georg Streit (overall Lead, Restructuring), Munich,Dr. Marc Scheunemann, LL.M., Düsseldorf/Frankfurt,Dr. Ulrich Jork (both Lead M&A, Corporate/M&A),Dr. Stephan Degen (Restructuring, Tax),Dr. Katharina Prasuhn (Corporate/Foreign countries), all Munich,Christoph Hexel (Employment),Dr. Guido Hoffmann (Finance), both Düsseldorf,Dr. Reinhard Siegert (Antitrust),Dr. Fabian Bürk (Restructuring),Dr. Kai Uwe Büchler (Restructuring), all Munich,Dr. Tilman Spancken (Real Estate),Dr. Christian Appelbaum (Commercial),Christina Tsitiridis (Real Estate), all Düsseldorf
TrusteeWhite & Case:Dr. Biner Bähr,Dr. Daniel Schwartz
Self-administratorSchultze & Braun:Detlef Specovius,Michael Böhner,Dr. Christoph von Wilcken,Alexander von Saenger
