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Schoenherr Advises Wienerberger on Treasury Shares Placement

Schoenherr Advises Wienerberger on Treasury Shares Placement

Austria
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Schoenherr has advised Vienna-based Wienerberger on the EUR 81.25 million treasury shares placement with institutional investors. Clifford Chance advised the joint bookrunners J.P. Morgan, Erste Group, and UniCredit on the deal. 

According to Schoenherr, Wienerberger is a leading international building material and infrastructure solutions supplier, offering durable and sustainable products. Listed on the Vienna Stock Exchange since 1869, 100% of Wienerberger’s shares are held in free float.

On September 3, 2021, Wienerberger closed the sale of 2.2% of its share capital, amounting to an aggregate of 2.5 million treasury shares, through the accelerated private placement with institutional investors. Conducted under Wienerberger's treasury shares resale program of July 23, 2021, the sale was subject to existing shareholders' exclusion of subscription rights. According to Schoenherr, Wienerberger intends to use the net sales proceeds, amongst others, to take advantage of growth opportunities in water and energy management within Wienerberger Piping Solutions.

"The successful placement of treasury shares with institutional investors, which was oversubscribed multiple times, shows the significant interest of investors in Wienerberger and its future development," commented Schoenherr Partner Christoph Moser. 

The Schoenherr team consisted of Moser, Partner Ursula Rath, Counsels Sascha Schulz and Hubertus Forsthuber.

The Clifford Chance team included Frankfurt-based Partner George Hacket and Senior Associate David Santoro.

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