Shearman And Sterling

News April 04, 2019

HF Private Debt and Deutsche Bank Acquisition and Squeeze-out Financings for TTP AG

Shearman & Sterling advised HF Private Debt and Deutsche Bank as lenders on the financing of the acquisition of four European engineering companies of the Danish NNE A/S by TTP AG and its subsidiary TTP GmbH. The firm also advised on the financing of the cash compensation for a squeeze-out merger, where TRIPLAN AG, as transferring company, was merged with TTP AG, as surviving company.

TTP AG, headquartered in Frankfurt am Main, Germany, is an operational holding company specializing in production-related engineering services for the process industry. It is the majority shareholder of TRIPLAN Aktiengesellschaft, based in Bad Soden am Taunus, Germany, an engineering service company focusing on the life science, chemical and petrochemical sectors.

TTP AG plans to continue managing the NNE subsidiaries in the European market as largely independent companies in the pharmaceutical and life science sector, and to revive the PHARMAPLAN brand name, under which the companies were known until 2017. After the acquisition of the four NNE-subsidiaries based in Germany, Belgium, France and Switzerland, TRIPLAN and PHARMAPLAN are to complement each other in the future under the umbrella of TTP AG to form a comprehensive service platform for the process industry.

The Team