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Allen & Overy advises Triton on EUR 1.3 billion acquisition financing in connection with the purchase of GEA Group's heat exchangers business

16 April 2014

Allen & Overy LLP advised financial investor Triton on the financing of the acquisition of the heat exchangers business from the engineering company GEA for approximately EUR 1.3 billion.
The sale and purchase agreement was signed today (Wednesday). The transaction is still subject to clearance by the competent cartel authorities and is expected to close in 2014.

In terms of turnover, GEA Heat Exchangers is the second largest segment of GEA Group, which is headquartered in Bochum. GEA put the segment up for sale due to lack of synergies with the rest of the business. Heat exchangers from GEA are used in air conditioning systems and cooling towers, for example.

The Allen & Overy team was led by Frankfurt-based partner Gernot Wagner (US Corporate Finance). He was supported by partners Thomas Neubaum (Banking and Finance, Frankfurt), Pierre Schleimer (Banking and Finance), Jean Schaffner (Tax, both Luxembourg) and James Graham (Banking and Finance, London), counsel James Taylor (Banking and Finance, Frankfurt), senior associates Vanessa Pfeiffer, Dr. Urs Lewens (both Banking and Finance, Frankfurt) and Florent Trouiller (Tax, Luxembourg) and associate Rebecca Emory (US Corporate Finance, Frankfurt).