Macquarie Infrastructure and Real Assets’ EUR 3.5 Billion Acquisition Of Currenta From Bayer AG And Lanxess AG

Clifford Chance advised Macquarie Infrastructure and Real Assets, the world’s largest infrastructure investor, on EUR 3.5 billion acquisition of Currenta from Bayer and Lanxess.

The transaction has a total volume of EUR 3.5 billion before deduction of net debt and pension obligations and still requires the approval of the responsible authorities. As part of the transaction, Bayer and Currenta have agreed on the conclusion of separate asset purchase agreements for the acquisition of certain Chempark property and infrastructure.

Currenta manages and operates infrastructure, energy supply and other essential services across the chemical parks in Leverkusen, Dormagen and Krefeld-Uerdingen and is currently a joint venture of Bayer (60 percent) and Lanxess (40 percent).

MIRA is a part of Macquarie Group and has been active in Germany for 30 years. The infrastructure manager has extensive experience in Currenta’s core business areas including utilities, transport, logistics, storage, waste management and treatment services.

The international Clifford Chance team advising MIRA comprised partners Anselm Raddatz (Picture) and Markus Stephanblome (Frankfurt), counsel Dominik Heß, associates Sandro Wiggerich, Denise Rosenau (all Düsseldorf) and Nadine Fell (Frankfurt, all Corporate), partners Thomas Reischauer and Fabian Böhm and associate Simon Schulz (all Real Estate, Frankfurt), partner Björn Heinlein and senior associate Zaid Mansour (both Energy Law, Düsseldorf), partners Thomas Voland and Mathias Elspaß, senior associates Philipp Büsch and Mira Wilcock and associate Frederic Maximilian Mainka (all Public Law, Düsseldorf), partner Gunnar Sachs and associate Yannick Frost (both Corporate/Commercial Agreements, Düsseldorf), partner Ines Keitel, senior associate Christopher Fischer (both Frankfurt) and associate Mario Maier (Munich, all Employment Law), partner Michael Kremer and counsel Jan Conrady (both Commercial Litigation, Düsseldorf), partner Marc Besen, counsel Dimitri Slobodenjuk und senior associate Anne Filzmoser (all Antitrust/Foreign Trade Law, Düsseldorf). Advice on the financing of the transaction was provided by partner Michael Bates, senior associate Claire Williams, associate Alex Holden (all London) as well as partner Barbara Mayer-Trautmann and senior associate Christian Cranmore (both Munich, all Finance). Advice on the tax structuring was provided by partner Olaf Mertgen and associate Nadine Schader (both Tax, Frankfurt).

In addition, Kliemt (Düsseldorf) with Jochen Saal (Pension), Dr. Thomas Gerdom and Deloitte (München) with David Krüger (Financial) also advised MIRA.

Inhouse at MIRA, Megan Protheroe provided legal support.

Bayer was advised by Inhouse lawyers Dr. Christian Bank, Dr. Stephan Semrau, Lukas Delahaye, Dr. Paul Fort, Dr. Manuela Eichholz, Dr. Andreas Karl, Cem Korkmaz, Frank Fröschle, Dr. Johannes Rabus, Dr. Jörg Wunderlich, Oliver Laufs, Dr. Henning Lütjens, Dr. Larissa Ruttig, Claudia Linder supported by Baker & McKenzie with a team composed of Dr. Ingo Strauss, Dr. Heiko Gotsche, Dr. Florian Thamm, Dr. Tim Heitling, Dr. Holger Lutz, Dr. Christian Burholt, Dr. Heiko Alexander Haller, Dr. Johannes Teichmann, Dr. Janet Butler, Dr. Verena Böhm; Associates: Johanna Jürgens, Lena von Richthofen, Cosima König-Mancini, Nikolas Lazaridis, Dr. Daniel Bork, Nadine Uhrner, Dr. Claire Dietz-Polte, Maximilian Voll, Anna-Sophia Herkenhoff, Simone Bach, Alexander Iken, Dr. Jan Frohloff, Dr. Lisa Reiser, Rebecca Romig, Agnes Herwig.

Lanxess was advised by Inhouse lawyers Agnieszka Mögelin-Zinger, Dr. Jochen Schroer, Dr. Sascha Werner, Dr. Matthias Rücker, Dr. Maike Krewet with the support of White & Case lawyers Markus Hauptmann, Endrik Lettau, Dr. Matthias Kiesewetter, Rostyslav Telyatnykov, Dr. Bodo Bender, Dr. Tilman Kuhn, Frank-Karl Heuchemer, Christian Theissen, Dr. Julia Sitte, Dr. Tim Bracksiek, Dr. Anna Burghardt, Dr. Katrin Rübsamen, Associates: Dr. Jochen Hoerth, Moritz Müller-Buttmann, Dr. Shuhan Zhang, Behnam Yazdani, Sandra D’Ascenzo, Dr. Anne Henzel, Anne-Sophie von Koester.

Involved fees earner: Simone Bach – Baker McKenzie; Verena Böhm – Baker McKenzie; Daniel Bork – Baker McKenzie; Christian Burholt – Baker McKenzie; Janet Kerstin Butler – Baker McKenzie; Claire Dietz-Polte – Baker McKenzie; Jan Frohloff – Baker McKenzie; Heiko Gotsche – Baker McKenzie; Heiko Alexander Haller – Baker McKenzie; Tim Heitling – Baker McKenzie; Anna-Sophia Herkenhoff – Baker McKenzie; Agnes Herwig – Baker McKenzie; Alexander Iken – Baker McKenzie; Johanna Jürgens – Baker McKenzie; Cosima König – Baker McKenzie; Nikolas Lazaridis – Baker McKenzie; Holger Lutz – Baker McKenzie; Lisa Reiser – Baker McKenzie; Rebecca Romig – Baker McKenzie; Ingo Strauss – Baker McKenzie; Johannes Teichmann – Baker McKenzie; Florian Thamm – Baker McKenzie; Nadine Uhrner – Baker McKenzie; Maximilian Voll – Baker McKenzie; Lena von Richthofen – Baker McKenzie; Michael Bates – Clifford Chance; Marc Besen – Clifford Chance; Fabian Böhm – Clifford Chance; Philipp Büsch – Clifford Chance; Jan Conrady – Clifford Chance; Christian Cranmore – Clifford Chance; Mathias Elspass – Clifford Chance; Nadine Fell – Clifford Chance; Anne Filzmoser – Clifford Chance; Christopher Fischer – Clifford Chance; Yannick Frost – Clifford Chance; Björn Heinlein – Clifford Chance; Alex Holden – Clifford Chance; Ines Keitel – Clifford Chance; Michael Kremer – Clifford Chance; Mario Maier – Clifford Chance; Frederic Maximilian Mainka – Clifford Chance; Zaid Mansour – Clifford Chance; Barbara Mayer-Trautmann – Clifford Chance; Olaf Mertgen – Clifford Chance; Anselm Raddatz – Clifford Chance; Thomas Reischauer – Clifford Chance; Denise Rosenau – Clifford Chance; Gunnar Sachs – Clifford Chance; Nadine Schader – Clifford Chance; Simon Schulz – Clifford Chance; Dimitri Slobodenjuk – Clifford Chance; Markus Stephanblome – Clifford Chance; Thomas Voland – Clifford Chance; Sandro Wiggerich – Clifford Chance; Mira Wilcock – Clifford Chance; Claire Williams – Clifford Chance; Dominik Heß – Hengeler Mueller; Thomas Gerdom – Kliemt Arbeitsrecht; Jochen Saal – Kliemt Arbeitsrecht; Bodo Bender – White & Case; Tim Bracksiek – White & Case; Anna Burghardt – White & Case; Sandra D’Ascenzo – White & Case; Markus Hauptmann – White & Case; Anne Henzel – White & Case; Frank-Karl Heuchemer – White & Case; Jochen Hoerth – White & Case; Matthias Kiesewetter – White & Case; Tilman Kuhn – White & Case; Endrik Lettau – White & Case; Moritz Müller-Buttmann – White & Case; Katrin Rübsamen – White & Case; Julia Sitter – White & Case; Rostyslav Telyatnykov – White & Case; Christian Theissen – White & Case; Anne-Sophie von Koester – White & Case; Behnam Yazdani – White & Case; Shuhan Zhang – White & Case;

Law Firms: Baker McKenzie; Clifford Chance; Hengeler Mueller; Kliemt Arbeitsrecht; White & Case;

Clients: Bayer; Lanxess AG; Macquarie Infrastructure and Real Assets ;