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published NOVEMBER 12, 2009

CMS Hasche Sigle advises Herlitz on sale to Pelikan

Stationery manufacturer Pelikan International has signed an agreement with private equity firm Advent International to acquire 66% of Herlitz AG, the Berlin-based office supplies company. It also acquired options and shareholder loans as well as a stake in Herlitz's logistics centre in Falkensee. Pelikan is paying a total purchase price of EUR 45 million. The transaction is still awaiting approval from the competition authorities and other conditions must also be met. Pelikan intends to make an offer to the remaining shareholders in Herlitz AG to buy their shares. A team from CMS Hasche Sigle Berlin advised Herlitz AG on the transaction. The ongoing merger control proceedings are being handled by a team from CMS Hasche Sigle Brussels. Herlitz is a long-established business that dates back to 1904. Advent International acquired its shareholding in the company in 2005. Herlitz currently has nearly 2,000 employees and generated sales of some EUR 300 million in the last financial year. Adviser to Herlitz AG: CMS Hasche Sigle (Berlin) Ralf Kurney, Corporate Dr Jörg Zätzsch, Corporate Axel Dippmann, Finance Adviser to Advent International: Lovells (Frankfurt) Dr Tim Oliver Brandi Adviser to Pelikan International Corporation Berhad: BMH Bräutigam & Partner (Berlin) Jan-Peter Heyer Adviser on Competition: CMS Hasche Sigle (Brussels) Dr Michael Bauer, Competition Dr Matthias Nordmann, Competition Stefanie Martin, Competition