Global law firm White & Case LLP has advised leading European private equity group EQT on the SEK 9.7 billion (around £820 million) tender offer for all of the shares in Sanitec by Geberit AG.
Switzerland-based Geberit is the European leader in the sanitary technology sector. It has a global presence through sales offices in 41 countries and generated a sales volume of CHF 2.3 billion during 2013. Sanitec is the leading producer of bathroom ceramics in Europe with a portfolio of household name brands and sales during 2013 of €702 million. It has been a portfolio company of principal shareholder EQT since 2005 and was listed on Nasdaq Stockholm in December 2013 following the successful completion of its initial public offering.
Stockholm-based White & Case partner Rikard Stenberg, who led the team which advised EQT, said: "We were very pleased to support EQT on a strategic deal that not only aims at combining two organisations that are highly regarded by customers and business partners alike, but also shows the strength in EQT's industrial approach to its investments."
Completion of the deal is subject to customary closing conditions, including merger control clearance.
The White & Case team in Stockholm which advised on the transaction was led by partner Rikard Stenberg with support from associates Petter Alberts and Johan Thiman.
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