Linklaters advises Lenzing AG on approximately €300m rights issue

Linklaters is advising Lenzing AG on a fully underwritten capital increase with subscription rights for existing shareholders, targeting gross proceeds of approximately €300m.

The subscription price was set at EUR 8.65 per share. For every 10 existing shares held, shareholders are entitled to subscribe for 9 new shares.

Headquartered in Lenzing, Austria, the Lenzing AG is an internationally operating company that develops and manufactures wood-based product solutions for the textile and nonwovens industries. As one of the few companies worldwide, Lenzing combines the production of cellulose fibers and filaments, as well as dissolving wood pulp and biorefinery products, under one roof, thereby covering key stages of the production process in-house. Lenzing’s wood-based specialty fibers and filaments are used in a wide range of end products, including apparel, home textiles, hygiene products, as well as medical and industrial applications.

The Linklaters team is led by Dr Marco G. Carbonare (Partner, Corporate/M&A, Frankfurt) and John Hunt (Counsel, Corporate/M&A, Frankfurt). Other team members included Tosan Kraneis (Managing Associate, Capital Markets, Frankfurt), Sylvie Ritter (Associate, Corporate/M&A, Frankfurt), Marianna Troia (Associate, Corporate/M&A, Frankfurt), Alexander Auster(Associate, Corporate/M&A, Frankfurt), Sebastian Meyn (Managing Associate, Corporate/M&A, Berlin), Omer Harel (Counsel, U.S. Tax, London) and Young Jin Kim (Associate, U.S. Tax, New York).