CHSH Cerha Hempel Spiegelfeld Hlawati has provided comprehensive legal advice to the Austrian HERZ group, which has operations worldwide, in connection with the acquisition of the majority of the shares in HIRSCH Servo AG.
The HERZ group acquired approximately 62 percent of the total share capital of and voting rights in HIRSCH Servo AG, both indirectly via Lifemotion SA, which was originally controlled by Dr. Matthias Calice, and directly from Kurt Hirsch Holding GmbH. It has therefore published a mandatory offer to acquire all of the shares in HIRSCH Servo AG in accordance with the relevant provisions of the Austrian Takeover Act.
As a strong Austrian industrial partner and a stable core shareholder, the HERZ group intends to continue to support the management of HIRSCH Servo AG in implementing the restructuring measures the company has already embarked on, its growth strategy and the investment projects that are necessary in that regard. With 12 production sites throughout Europe, the HERZ group is the leading manufacturer of products used in facility management, as well as biomass boilers and heat pumps. In turn, HIRSCH Servo AG is the EPS specialist listed on the Vienna Stock Exchange (EPS stands for expandable polystyrene – better known under the brand names Styropor® and Porozell®), with production sites in Austria and in five other countries.
The team at CHSH was led by Dr. Thomas Trettnak (Partner, Corporate/M&A) and also consisted of partner Mag. Heinrich Foglar-Deinhardstein and associates Mag. Jakob Hartig, Mag. Franziska Mensdorff-Pouilly and Mag. Stephanie Sauer (all Corporate/M&A).
Re-published with permission of CHSH.