Haniel sells ELG with the assistance of Allen & Overy

Aperam intends to acquire ELG as a group and to continue to operate ELG as a fully separate company, serving customers in their best interests. The transaction is subject to customary regulatory approvals and expected to close in the second half of 2021.

ELG specialises in trading, processing, and recycling raw materials for the stainless-steel industry as well as high-performance materials such as superalloys and titanium. Since its acquisition by Haniel almost 40 years ago, ELG has developed into one of the world's leading companies in its sector.

Franz Haniel & Cie. GmbH is a 100 percent family-owned company, headquartered in Duisburg since its foundation in 1756. It manages a portfolio of independent businesses which currently comprises eight business units: BauWatch, BekaertDeslee, CWS, ELG, EMMA, Optimar, ROVEMA, TAKKT. Additionally, Haniel holds a financial stake in CECONOMY. In 2020, the Haniel Group employed 20,400 staff and generated sales of 3.1 billion euros.

The Allen & Overy team was led by partner Dr Hartmut Krause, counsel Alexander Wüpper and senior associate Tatiana Marzoli (all Corporate/M&A, Frankfurt) and further comprised partners Jürgen Schindler (Antitrust, Brussels), Dr Ellen Braun, Dr Börries Ahrens (both Antitrust, Hamburg), Jan Erik Windthorst (Litigation), Dr Heike Weber (Tax), Dr Udo Olgemöller (Public Law / Environmental Law, all Frankfurt) and Dr Jens Matthes (IP, Düsseldorf) as well as counsels Dr Tim Müller (Business Crime / Compliance, Frankfurt), Dr Alice Broichmann (Litigation, Munich), Boris Blunck (Employment & Benefits), Dr Peter Wehner (Pensions), Matthias Fischer (Real Estate, all Frankfurt) and Kyrill Chilevych (Corporate/M&A, Düsseldorf). The team further comprised senior associates Stefanie Günther (Public Law / Environmental Law), Dr Riccardo Marinello (Real Estate), Dr Thomas Dieker (Tax, all Frankfurt), Dr Lukas Rengier (Antitrust, Hamburg) and Catharina Glugla (Data Protection, Düsseldorf) as well as associates Maria Boerner (Corporate/M&A), Lisa Wantzen and Barbara Angene (both Employment & Benefits), Holger Jacobs (Litigation), Dr Stephan Bühner (Public Law), Dr Jasmin Hense (Business Crime / Compliance), Dr Manuel Köchel (Tax, all Frankfurt), Fabian Kolf and Dr Jonas Labinsky (both Antitrust, Hamburg), Anna Kraeling (IP, Düsseldorf) as well as transaction officer Laura Thiel (Frankfurt).

In addition, lawyers from Allen & Overy's offices in the USA, the UK, the Netherlands, France, Italy, Spain, Russia, Japan and Thailand provided legal advice.