Ashurst advises banking consortium led by Landesbank Baden-Württemberg on refinancing of Powder Metal Group

Ashurst advised a banking consortium led by Landesbank Baden-Württemberg (LBBW) on the refinancing of automotive supplier Powder Metal Group. The consortium comprised Sachsen Bank (a subsidiary of LBBW), Bawag, BayernLB and DZ Bank. The refinancing was carried out in connection with the acquisition of PMG by finance holding Vermögensverwaltung Erben Dr. Karl Goldschmidt GmbH. The Austrian Plansee group sold PMG.

The Ashurst team from Frankfurt, Madrid and Washington was led by international finance partner Dr Tom Beckerhoff. He was supported by counsel Miriam Petri, associate Michael Schuhmacher, paralegal Carina Gläßl (all international finance) and senior tax associate Nina Siewert (all from Frankfurt). Washington partner Richard Davis and senior associate Mary Kathryn Lee advised on US law, Madrid partner Jose Christian Bertram and associate Galo Leoz (all international finance) on Spanish law.