Sosta, a Dutch manufacturer of stainless steel pipes, has sold its production facility in Könnern, Saxony-Anhalt, to the Butting Group. The transaction was structured as an asset deal. It included the land, buildings and technical equipment that form part of the production plant, as well as intangible assets such as trademarks and names. The around 50 staff at the Könnern site will retain their jobs as employees of a newly established company within the Butting Group.

A CMS team headed by Dr Jochen Lux and Dr Jörg Lips advised Sosta on all legal aspects of the sale. The two Leipzig-based transaction experts and the associated team recently also demonstrated their industry expertise during the acquisition of a hazardous waste treatment facility by Suez.

Sosta is a leading European manufacturer of stainless steel pipes. It specialises in pipe production for use in the oil and gas industry, shipping and the energy sector, among others. The company has operated in Könnern, which is near Leipzig, since 1995.

Knesebeck-based Butting Group is a steel processing firm specialising in corrosion resistant pipes and components. The group has some 1,700 employees at sites in Germany, China, Brazil and Canada.
CMS Germany

Dr. Jochen Lux,
Dr. Jörg Lips, beide Partner
Peter Ollesch
Dr. Christoph Löffler, beide Associate, alle Corporate/M&A
Jesko Nobiling, Partner, Tax
Dr. Heralt Hug, Partner
Dr. Hans-Christian Woger, Senior Associate, beide IP/IT
Gerd Schmidt, Partner, Real Estate
Dr. Ursula Steinkemper, Partner, Environmental
Dr. Anja Schöder, Senior Associate
Hannah Zimmer, Associate, beide Labor & Employment
Dr. Rolf Hempel, Partner
Martin Cholewa, Senior Associate, beide Fusionskontrolle