Glaston Corporation’s €68 million Acquisition Of Bystronic Glass

Glaston Corporation (HEL: GLA1V) has entered into a stock purchase agreement with Conzzeta AG (SWX: CON) to acquire Conzzeta’s glass business through the acquisition of Bystronic Maschinen AG and Bystronic Lenhardt GmbH as well as their subsidiaries for an enterprise value of EUR 68 million.

The acquisition supports Glaston’s ambition to further strengthen its position in the glass processing value chain, adding offering in insulation for the architectural market as well as pre-processing for the automotive and display market. As a result of this transformational acquisition, Glaston will have a unique and value adding offering benefitting its customers.

Glaston Corporation has secured committed debt financing for the transaction, subject to customary conditions, and committed equity financing, subject to Glaston’s extraordinary general meeting (the “EGM”) authorizing the Board of Directors to resolve on issuances of new shares. Glaston will convene the EGM to authorize the Board of Directors of Glaston to decide on (i) a directed share issue of approximately EUR 15 million to certain large shareholders of Glaston, i.e. the Cornerstone Investors as defined below, who have committed to subscribe for such shares provided that certain conditions are met (the “Directed Share Issue”) and, conditional upon the completion of the acquisition, (ii) a rights issue of approximately EUR 32 million (the “Rights Issue”).

Homburger acts as Swiss counsel to Glaston on the deal with a team led by partner Daniel Hasler (Corporate | M&A, in picture) and includes partner Gregor Bühler (IP | IT), senior associate Mario Wälti (Corporate | M&A), associate Valentin Fluor (IP | IT) as well as junior associates Isabel Guth (Corporate | M&A) and Noëmie Schär (IP | IT). Peter Müller advises as counsel on tax matters.

Luther Rechtsanwälte mbH acts as German counsel to Glaston.

Involved fees earner: Gregor Bühler – Homburger; Valentin Fluor – Homburger; Isabel Guth – Homburger; Daniel Hasler – Homburger; Peter Müller – Homburger; Noëmie Schär – Homburger; Mario Wälti – Homburger;

Law Firms: Homburger;

Clients: Glaston Corporation;