Homburger advised Picanol NV on its acquisition of a minority stake in Rieter Holding AG

On March 16, 2021, the diversified industrial group Picanol NV (EBR: PIC) announced that it has acquired 10% of the share capital of Rieter Holding AG (SWX: RIEN), the world’s leading supplier of systems for short-staple fiber spinning, for an aggregate purchase price of EUR 45.4 m.

With the financial participation in Rieter, Picanol wants to further diversify its activities in the textile industry and secure a stable shareholding for Rieter in the long term.

Homburger acted as Swiss counsel to Picanol in connection with the transaction. The Homburger team comprised partner Dieter Gericke and associate Marc Hanslin (both Corporate / M&A). Stibbe BV/SRL (Jan Peeters) acted as Belgian counsel to Picanol.