04.02.2015

Luther advises the chemical group Solvay in the sale of the German refrigerant business

Press Release

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Luther Rechtsanwaltsgesellschaft mbH has advised Solvay Germany in connection with the sale of the German refrigerant business. This was not the first time Solvay relied on Luther for legal advice: In September 2014, the company had already retained the major law firm to support it in the acquisition of Flux Schweiß- und Lötstoffe GmbH.

Background

With its move at the end of January 2015, Solvay sold not only the refrigerant division but also the division producing foaming agents for the pharmaceutical industry, thus pulling out all of its businesses in Frankfurt/Main. The buyer is the Japanese Daikin Industries group, which – just like Solvay – has subsidiaries in Germany.

About Solvay

The Brussels-based chemical giant is one of the ten largest chemical companies in the world. The group serves a wide range of markets – from consumer goods to energy. In 2013, Solvay had around 30,000 employees and plants in 56 countries, generating sales of EUR 9.94 billion worldwide.

The German Solvay companies generated sales both in Germany and abroad totaling around EUR 1.1 billion in 2013. Headquartered in Hanover, the German holding employs around 3,000 people at ten sites across Germany.

 

About Daikin

Daikin Industries, Ltd., based in Osaka (Japan), employs around 33,500 people and is listed on the Nikkei 225 stock exchange. To just name a few, the group owns the German subsidiaries Daikin Airconditioning Germany (located in Unterhaching) and Daikin Chemical Europe (located in Düsseldorf).

For Solvay Germany

Luther Rechtsanwaltsgesellschaft, Hanover: Prof. Dr. Hans-Georg Hahn (Lead Counsel), Dr. Andreas Blunk (both Partners), Dr. Sebastian Rabe, MLE (all Mergers & Acquisitions), Anne Caroline Wegner, LL.M. (Partner, Antitrust Law), Dr. Stefan Altenschmidt, LL.M. (Partner; Environment and Planning Law, Regulatory)

In-house: Dr. Wolfgang Müller LL.M (Head of the Legal Department), Katrin Wolters (Commercial), Anna Christine Gerlach (Regulatory)

 

Please find a PDF version of this press release here.
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Author
Dr Stefan Altenschmidt, LL.M. (Nottingham)

Dr Stefan Altenschmidt, LL.M. (Nottingham)
Partner
Dusseldorf
stefan.altenschmidt@luther-lawfirm.com
+49 211 5660 18737

Dr Andreas Blunk, MLE

Dr Andreas Blunk, MLE
Partner
Hanover
andreas.blunk@luther-lawfirm.com
+49 511 5458 16564

Prof. Dr Hans-Georg Hahn

Prof. Dr Hans-Georg Hahn
Partner
Hanover
hans-georg.hahn@luther-lawfirm.com
+49 511 5458 17647

Anne Caroline Wegner, LL.M. (European University Institute)

Anne Caroline Wegner, LL.M. (European University Institute)
Partner
Dusseldorf
anne.wegner@luther-lawfirm.com
+49 211 5660 18742