P+P advises Münchener Rück, Deutsche Bank and WMF on the sale of their shareholdings in BHS Tabletop AG

Münchener Rückversicherungs-Gesellschaft, Deutsche Bank AG and WMF Group GmbH have sold their shareholdings in the publicly listed company, BHS Tabletop AG (BHS), to Serafin Unternehmensgruppe in Munich. BHS is based in Selb in Upper Franconia and is one of the leading manufacturers of professional porcelain.

Through this transaction and another share purchase agreement, Serafin has acquired to date over 86% of the share capital and the voting rights in BHS. Serafin will submit a public tender offer to the external shareholders for the purchase of the additional BHS shares. The execution of the transaction is still subject to approval by the antitrust authorities.

The following team from P+P Pöllath + Partners comprehensively advised the principal shareholders, Münchener Rück, Deutsche Bank and WMF, which together held 82.72% of BHS:

• Dr. Wolfgang Grobecker (partner, corporate, Munich)
• Dr. Tobias Hueck (associate, corporate, Munich)
• Philipp Opitz (associate, corporate, Munich)

In-house counsel and Gleiss Lutz are advising the buyer Serafin on the transaction.