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Deals
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DEALS - OPERACIONES
According to the agreement concluded with ThyssenKrupp Marine Systems, Abu Dhabi MAR will acquire Blohm + Voss Shipyards in Hamburg as well as the production facilities for civil shipbuilding of the former HDW Gaarden, including its employees in Kiel. Abu Dhabi MAR will also acquire 80 per cent in each of the Hamburg-based companies Blohm + Voss Repair and Blohm + Voss Industries. Both companies also agreed to form a close strategic alliance, involving a 50:50 joint venture for design and project management in naval surface shipbuilding. The transaction requires clearance under merger control regulations. For the marine sector, it is subject to approval in accordance with the German Außenwirtschaftsgesetz (AWG) (German Foreign Trade and Payments Act). The transaction is likely to be completed by the end of June 2010. Abu Dhabi MAR is one of the leading shipbuilders in the Persian Gulf region. The ADM subsidiaries include, among other companies, ADM Shipyards (Abu Dhabi), CMN Yachts (F-Cherbourg) and Nobiskrug (Rendsburg). ThyssenKrupp Marine Systems is a wholly-owned group company of ThyssenKrupp AG. Freshfields has previously advised TKMS Blohm + Voss Nordseewerke on the sale of the Emden plant to SIAG Schaaf Industrie AG. The Freshfields team included partners Dr. Anselm Raddatz and Dr. Stephan Waldhausen, associates Sebastian Heidtkamp and Benjamin Chouka (all corporate/M&A); partner Dr. Martin Klusmann, principal associate Dr. Uta Itzen (both antitrust, competition and trade); partner Dr. Norbert Schneider (tax); partner Christoph Brenzinger (real estate); partner Dr. Thomas Müller-Bonanni (employment, pensions and benefits); and partner Dr. Andrea Lensing-Kramer (IP/IT) (all Düsseldorf).
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