Managing Partner, Erich Bachmann and Senior Associate, Sarah Gibbs, advised the sole shareholder of Neuseelandhaus GmbH on the legal aspects of the cross-border sale of his shares to Manuka Health New Zealand Limited.
Manuka Health New Zealand Limited acquired 100% of the shares in German specialist honey distributor, Neuseelandhaus GmbH from the sole shareholder, Reinhard Kuhfuβ for an undisclosed amount.
The transaction represented one of the few direct outbound investments by a New Zealand company in Germany. As such, the deal was primarily negotiated and documented in New Zealand, with Hesketh Henry working alongside CMS (Düsseldorf, Germany) who were responsible for the German legal aspects of the transaction. Manuka Health’s New Zealand legal advisers were also working closely with a German law firm. The transaction documentation was subject to review and comment by four sets of lawyers so clear roles, reporting lines and timelines had to be carefully managed. The Hesketh Henry and CMS legal teams worked in close alignment and held regular conference calls for status updates on pending action points and to ensure the clear and efficient progression of the transaction across the time zones and to minimise double-handling of issues. Erich Bachmann was also in attendance in Germany in the days leading up to completion.
The transaction was facilitated by multi-lingual M&A business adviser Stephen Diver of SDR Limited with whom Hesketh Henry has worked on a number of previous deals.