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Freshfields advises UniCredit on the €477.2m financing of RHI AG’s acquisition of Magnesita Refratários S.A.

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised UniCredit Bank Austria AG as mandated lead arranger, and 17 other international lenders, on a €477.2m facility provided to the Austria-based global refractory market leader RHI AG (RHI) for the acquisition of its Brazilian competitor Magnesita Refratários S.A. (Magnesita). The transaction closed on 26 October 2017.

The complex financing carried out according to Austrian capital market rules involved a demerger and subsequent merger, which ultimately caused the borrower to cease to exist, and an acquisition based on not only a share purchase agreement but also on a multistage mandatory tender procedure under Brazilian law. 

The Freshfields team was led by Vienna-based partner Florian Klimscha. Principal associate Blair Day led on providing English law advice, partner Michael Sedlaczek led on providing tax advice, and partner Thijs Flokstra led the Dutch financing team.

The Brazilian part of the transaction was led by Machado Meyer Advogados, a member of the Freshfields StrongerTogether network. 
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The Freshfields team was led by: