Wienerberger AG (WBAG:WIE) submitted an offer to acquire Business of Terreal Group in Germany, France, Italy, Spain and the USA from TERREAL SAS on December 20, 2022. The enterprise value of the respective Terreal businesses amounts to ?600 million. The transaction consideration will be financed by cash on hand, bank loans and Wienerberger Treasury stock. Wienerberger would expand its production footprint by 29 sites following this transaction. This deal is subject to approval from the competition authorities and satisfaction of other conditions. Terreal will continue to operate its business completely separately till got the approval from competition antitrust authorities. As of February 1, 2023 The German Federal Cartel Office has already approved the merger and Austrian Federal Competition Authority (BWB) has reviewed the proposed takeover. This deal is expected to close over the course of 2023. As of February 1, 2023, The Federal Competition Authority (BWB) has examined the transaction and found it to be unapprovable. The competition authorities have therefore submitted an application for an in-depth examination to the cartel court. As of February 20, 2023 The Federal Cartel Office clears the acquisition of all shares in Terareal Holding S.A.S by Wienerberger AG. As of August 29, 2023, Austria?s Cartel Court approved this transaction. As of October 10, 2023, The Polish Office of Competition and Consumer Protection (UOKiK) has issued conditional consent for Wienerberger to take over Terreal business.

Alexander Benedetti and Thomas Forschbach of Latham & Watkins LLP, Uwe Wellmann, Christoph Heinrich, Mario Weichel, Anja Fischer, Katrin Lüdtke, Christian Hess, Michael Ziegler, Petra Fendt and Ariane Loof of Beiten Burkhardt Rechtsanwaltsgesellschaft mbH, Advant Altana, Uwe Wellmann, Mario Weichel and Christoph Heinrich of BINDER GRÖSSWANG Rechtsanwälte GmbH, Radovanovic Stojanovic & Partners, Josef Schmidt of E&H Rechtsanwälte GmbH and Wozniak Legal acted as legal advisors to Wienerberger. Beiten Burkhardt Rechtsanwaltsgesellschaft mbH and Advant Altana acted as due diligence providers to Wienerberger. Jean Beauchataud, Pierre-Alexandre Kahn from Weil, Gotshal & Manges LLP, Paris acted as legal advisor to Wienerberger. Jérôme Talleux and Jean-David of KPMG Avocats acted as legal advisor and due diligence provider to Wienerberger.

Wienerberger AG (WBAG:WIE) completed the acquisition of Business of Terreal Group in Germany, France, Italy, Spain and the USA from TERREAL SAS on March 1, 2024. Orrick and Herbst Kinsky advised the Terreal group and its main shareholders on the antitrust aspects of the sale of its activities. Andrea Gritsch and Claus Schneider, Zeno Grabmayr, Katarzyna Wojcik-Bakowska, Janos Toth from WOLF THEISS Rechtsanwalte GmbH, Beiten Burkhardt P. Daszkowski SP.K, Wolf Theiss Si Associatti SCA acted as legal advisors to TERREAL SAS.