FOR IMMEDIATE RELEASE
Deutsche Version: Milbank begleitet Andechser Molkerei Scheitz und Familie Scheitz kartellrechtlich beim Rückerwerb von Anteilen von der Savencia Gruppe
MUNICH, October 8, 2015 – The Andechser Molkerei Scheitz GmbH and family Scheitz have bought back shares in Andechser Molkerei Scheitz GmbH from the French Savencia Group (formerly Bongrain Group), thus returning all voting rights to the Scheitz family.
A demerger proceeding combined with extensive investigations by the Bundeskartellamt (Federal Cartel Office) preceded the transaction (see Bundeskartellamt press release, October 5, 2015). In 1999 Savencia acquired a stake in Andechser Molkerei Scheitz and also took over competitor Molkerei Söbbeke from 2011 to 2013. Savencia obtained merger clearance from the Bundeskartellamt for the acquisition of Söbbeke but pursuant to the findings of the Bundeskartellamt based on incorrect information provided to the authority during the merger review in 2011. Once the misstatements were noticed, the Bundeskartellamt initiated the demerger proceeding.
Milbank, Tweed, Hadley & McCloy LLP represented the Andechser Molkerei Scheitz GmbH and family Scheitz on all antitrust aspects in the proceedings before the Bundeskartellamt with a team led by partner Alexander Rinne.
Andechser Molkerei Scheitz is Germany's largest organic dairy. Milbank regularly represents leading dairy companies in numerous transactions, antitrust proceedings and sector inquiries.
Antitrust advisor to Andechser Molkerei Scheitz GmbH und Familie Scheitz: Milbank, Tweed Hadley & McCloy LLP
Alexander Rinne (lead), Tatjana Mühlbach (both Antitrust, Munich)
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Seoul, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank focuses its worldwide legal services in the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
