We are advising Betoonimeister, a leading Estonian producer of ready-mix concrete, on the sale of the majority shareholding in Betoonimeister to German building materials group Schwenk.
Entering a new market
As a result of the transaction, Schwenk aims to expand their operations, especially in the ready-mix concrete production market in the Baltics which is outside of its current geographical area of operation. Following the acquisition, Betoonimeister’s daily work and management will remain the same, all employees will continue with the company and the current contracts are valid.
The transaction is subject to approval from the Estonian Competition Authority.
Our services and client team
In great cooperation with the client, we advised on all stages of the transaction, including providing assistance with organising the LDD process, drafting transaction documentation, including share purchase agreement and shareholder’s agreement, providing support in real estate matters, negotiating the transaction terms, as well as assisting with the signing of the transaction. Sorainen will continue to assist the client during the closing proceedings, subject to the approval of the Estonian Competition Authority.
Our client team was led by partner Paul Künnap and supported by associate Andra Grünberg.