Rödl & Partner advises Vorwerk on investment in Degrenne
Wuppertal / Vire / Paris — Rödl & Partner advised the Vorwerk Group on its 30 percent shareholding in Guy Degrenne SA (“DEGRENNE”) through a capital increase of 15 million euros at a subscription price of 0.23 euros per share.
Following the capital increase, the main shareholder Diversita and Vorwerk plan a joint squeeze-out of all shares held by minority shareholders. The effective execution of the squeeze-out is still subject to approval by the French financial market authority AMF.
Following further steps agreed in a framework agreement signed in January, Vorwerk will eventually hold a 30% stake in DEGRENNE. Vorwerk’s investment will enable DEGRENNE to accelerate its recovery and, in particular, to invest in the modernization of its historic production site in Vire, Normandy. About Vorwerk The Vorwerk Group is a family-owned company with worldwide activities in the production and sale of high-quality household appliances. Vorwerk is known primarily for the multifunctional kitchen appliance Thermomix.
DEGRENNE is a high-end manufacturer of luxury tableware, including cutlery, porcelain dinnerware and stainless steel cookware, as well as high-end metal appliances for industrial customers, including Vorwerk.
Advisor Vorwerk: Rödl & Partner Paris
Legal, Tax, Finance Nicola Lohrey, Managing Partner France (Legal Due Diligence, SPA Advice) Anne-Sophie Hebras, Attorney at Law (France), Associate Partner (Legal Due Diligence, SPA Advice, Closing Procedures) Olivier Roussel, General Director (Financial Due Diligence, SPA Advice) Maximilian Egger, CFA, Associate Partner (Financial Due Diligence, SPA Advice, Closing Statements) Maximilian Lennertz, Associate (Financial Due Diligence)