News

Osborne Clarke advises PT Elegant Textile Industry on the acquisition of the majority stake in Spinnerei Lampertsmühle


Written on 23 April 2020

Cologne/Germany, April 23, 2020. ABY GmbH has acquired 74% of the shares in Spinnerei Lampertsmühle GmbH. ABY is a wholly owned subsidiary of the Indonesian PT Elegant Textile Industry. PT Elegant Textile Industry is the world’s largest producer of spun rayon yarn and serves 10% of the global rayon yarn trade. The company is part of the Indian Aditya Birla Group – a longstanding client of Osborne Clarke.

The Lampertsmühle GmbH spinning mill with its main location in Kaiserslautern (Germany) has been successfully producing and selling raw white and colored yarns and twists for over 150 years.

The international legal practice Osborne Clarke provided legal advice to the client in its entirety. The project was managed by Rudolf Hübner and Rouven Siegemund (both corporate / M & A), the team also consisted of Dr. Timo Karsten, Dr. Viktoria Winstel (at-de labor law), Ulrich Bäumer (IP law), Dr. Sebastian Hack, Christoph Henatsch (both cartel law), Dr. Daniel Breuer, Dr. Marleen Rheker (both energy law) and Thomas Schnabel (real estate law).

The deal underscores Osborne Clarke’s strong positioning in India, which is also growing steadily through the cooperation with BTG Legal (Mumbai, Delhi and Bangalore). The focus is among others on technology transactions for Indian clients in the German market, but also for all other transactions and transactions from Europe and the USA to India. Osborne Clarke has once again been included in the A list of international lawyers in India by the India Business Law Journal (https://www.vantageasia.com/india-business-law-journal/the-international-a-list-2020/).