Baker McKenzie advises an affiliate of US private equity group Lone Star on its acquisition of Xella Group, a German-based solution provider of building materials, from European private equity firms PAI Partners and investment funds managed by Goldman Sachs.

The Baker McKenzie Prague office team led by partner Libor Basl, who is primarily supported by associate David Reiterman, advises on the Czech aspects of the deal, worth over EUR 2.2 billion. The deal is expected to close in the first half of 2017.

Lone Star is a leading private equity firm that invests globally in real estate, equity, credit and other financial assets.

Xella manufactures aerated concrete blocks, calcium-silicate units and high-performance boards, as well as products involving lime and limestone. Headquartered in Duisburg, Xella operates 96 production plants in 20 countries and employs over 5,900 people globally.