P+P advised Stargate Capital on the acquisition of Loewe
Entrepreneurial investor Stargate Capital GmbH acquired the TV manufacturer Loewe. The notarial purchase contract was signed by the parties on March 21, 2014; closing is planned at the beginning of April. The purchase price shall remain confidential.
Stargate Capital will take over the entire business operations of Loewe AG and Loewe Opta GmbH. Stargate will also take over all international subsidiaries.
The TV manufacturer Loewe has almost 100 years of history. The company had experienced financial difficulties in the past, which brought about the search for an investor.
The company headquarters, including production, will remain in Kronach. Approximately three quarters of the employees, including all trainees and employees of international subsidiaries, shall be retained. The other employees will be kept on until September 20, 2014 and shall subsequently receive an offer to move to a transfer company, where they will receive support in looking for new jobs.
Stargate Capital was advised by the following P+P team: Philipp von Braunschweig (partner, lead, Munich), Tobias Jäger (associate, corporate, Munich), Timo Winkelmann (counsel, real estate, Munich), Jens Linde (counsel, financing, Frankfurt), Alexander Pupeter (partner, tax structuring, Munich), Pia Dorfmueller (partner, tax due diligence, Frankfurt), Katharina Reuther (associate, insolvency law, Frankfurt), Franca Detert (associate, corporate/contract law, Munich)