Austria/Serbia: Schoenherr advises Greiner Packaging on acquisition of ALWAG
Schoenherr in cooperation with Moravčević Vojnović and partners advised Greiner Packaging International GmbH (Greiner) on all legal aspects of its 100 % acquisition of Serbian PET flake producer ALWAG DOO NOVA GAJDOBRA from ALING-CONEL d.o.o. Gajdobra (Serbia) and REIWAG Facility Services GmbH (Austria).
With this acquisition, Greiner is expanding its business model across the value chain and has now added the reprocessing of recyclable materials to its operations. Some recycled materials, all of which previously had to be brought in from external suppliers, will now be produced in-house. The group is also adding to its expertise in the recycling sector and will be able to gradually prolong the lifecycles of its products.
"Taking this step makes recycling an integral part of our business model," said Manfred Stanek, CEO of Greiner Packaging and COO-elect of Greiner AG. "At the same time, the acquisition consolidates our position as a pioneer of sustainability on the international market."
Greiner has been developing and producing rigid plastic packaging for 60 years, using the vast array of production, decoration and barrier technologies at its disposal. The company's packaging products are used in a multitude of food and non-food markets.
Greiner's legal team was led by Michael Stelzel, Global Director Legal & Compliance. The Schoenherr team included Luka Lopicic (partner, Serbia), Michael Marschall (attorney at law, Austria), Djordje Trifunovic (attorney at law, Serbia), Pavle Eric (associate, Serbia) and Lukas Pirringer (associate, Austria) advising on the corporate/M&A aspects, and Danijel Stevanovic (partner, Serbia) advising on the competition law aspects.
The sellers were advised by Stanivuković law firm.