Noerr advises on sale of assets of insolvent Aluminium Rheinfelden Group to RUSAL

Noerr has advised on the sale of all assets of the insolvent Aluminium Rheinfelden Group to the Russian aluminium manufacturer RUSAL by way of an asset-deal reorganisation (übertragende Sanierung).

Advice on the transaction was provided by a team led by Noerr restructuring experts Thomas Hoffmann and Andrea Braun for the self-administration of the three operating companies Alloys, Carbon and Semis and for Holger Leichtle as the holding company’s (Aluminium Rheinfelden GmbH) insolvency administrator. On 22 September 2020, the Aluminium Rheinfelden Group had applied for the initiation of insolvency proceedings as self-administration proceedings (Schutzschirmverfahren). The takeover is still subject to the approval of both the German Federal Ministry for Economic Affairs and Energy and the Federal Cartel Office. The RUSAL Group has prevailed as a strategic investor in an international M&A process. Once the transaction is approved, RUSAL takes over the entire group.

By acquiring the Aluminium Rheinfelden Group, RUSAL gains an aluminium manufacturer with a heritage extending back to 1898. According to the RUSAL Group, it consists of a total of 43 companies in 13 countries worldwide. The RUSAL Group is listed on the Stock Exchange of Hong Kong.

Advisors to the Aluminium Rheinfelden Group: Noerr Partnerschaftsgesellschaft mbB

Dr Thomas Hoffmann (Berlin/Frankfurt), Dr Andrea Braun (Frankfurt, both Restructuring & Insolvency, joint lead), Christof Federwisch (Public Law, Frankfurt), Dr Christoph Rieken (Intellectual Property, Munich), Dr Kathrin Westermann (Antitrust, Berlin), Dr Claus D. Zimmermann (Foreign Trade, Brussels)

Associates: Sabrina Lux (Restructuring & Insolvency, Frankfurt), Linda Degen (Public Law, Düsseldorf), Dr Niclas Gajeck, Katja Schmitt (both Intellectual Property, Munich)

Self-administration: Schultze & Braun

Detlef Specovius (Achern), Dr. Jürgen Erbe (Mannheim both Insolvency Law, joint lead), Tatjana Jürcke-Richter (Mannheim, Insolvency Law), Stefanie Beck (Nürnberg, Employment Law)

Trustee/Insolvency administrator: Dr Holger Leichtle, Simone Kaldenbach, Görg

RUSAL: Sidley Austin (CE) LLP: Björn Holland, Patrick Schulz