Keensight Capital Undertakes Complex German Acquisition and Subsequent Italian Merger

May 12, 2016

Paris – Paul Hastings LLP, a leading global law firm, has advised Keensight Capital in connection with a complex transaction resulting in the combination of the Italian group Tecres and the German company aap Biomaterials under the holding company Demetra Holding, of which Keensight Capital became a significant minority shareholder.

This transaction consisted of Keensight Capital, as a first step, acquiring the German manufacturer of biomaterials, aap Biomaterials, from the publicly-traded group, aap Implantate, then, as a second stage, combining aap Biomaterials with the Italian family group Tecres, specializing in bone cements and bone substitutes.

This cross-border transaction gave rise to the world leader in the area of bone cement and biomaterials for orthopedics.

The Paul Hastings team included Paris partner Olivier Deren and associate Sébastien Crepy for the corporate and contractual aspects, partner Allard de Waal and associateThomas Pulcini for tax aspects, and partner Mounir Letayf for financing issues; Frankfurt partner Regina Engelstaedter and associate Maximilian Kuhn on corporate and contractual aspects and tax adviser Uwe Halbig, who were more specifically responsible for the acquisition of aap Biomaterials; and Milan partner Paolo Manganelliand associate Simona Martuscelli on corporate and contractual aspects and partnerBernadette Accili and associate Domenico Gioia on tax aspects, who were specifically responsible for Italian law issues relating to the combination with Tecres group.

aap Implantate was advised by Taylor Wessing (Berlin office).

Tecres group was advised by C Partners (Maurizio Marullo, Giorgio Vagnoni and Davide Soardo).

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