With a team led by Düsseldorf-based partner Dr. Peter Zimmermann, Heuking Kühn Lüer Wojtek advised glass packaging manufacturer Owens-Illinois on the sale of an industrial site. The advice included in particular the drafting of the purchase agreement and due diligence including data room review. Buyer of the 110,000 square meter site in Achern is Karl group, based in Innernzell, Bavaria. Karl group emerged from a bidding procedure, in which three bidders had participated. The purchase price was not disclosed.
Karl group, specializing in the restructuring of disused industrial sites, now intends to develop re-use options for the Achern site with the city. Owen-Illinois operated glassworks on the site from 2004 to 2012.
Owens-Illinois is the leading producer of glass packaging. The company with 75 production facilities in 21 countries employs 21,100 and is headquartered in Perrysburg, Ohio/USA. In 2014, the company generated revenue of US-$6.8 billion.
Founded in 1966, Karl group is a construction company headquartered in Innernzell in Lower Bavaria. The group specializes in construction, construction machinery, and hydropower, as well as the management of real estate.
Counsel to Owens-Illinois
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Lead), Düsseldorf
Dr. Markus Collisy, Frankfurt
Kathrin T. Fischer (all Real Estate & Construction), Düsseldorf