Acquisition of ZT in Bodaczów by Glencore

DZP advised Glencore, one of the largest global players on the goods and raw materials market, on a project involving the acquisition of Zakłady Tłuszczowe in Bodaczów and the restructuring of the company’s liabilities towards a mezzanine fund and banks.

When the transaction was carried out the target company was in a difficult finance situation and its shareholding structure was complex. Due to the speed at which the transaction was carried out reorganisation steps were successfully implemented leading to the company’s liabilities towards financing entities and several thousand suppliers being settled, to production at the plant being restarted, and also to products being supplied to business partners.

Our advisory involved full-range legal and tax assistance covering, e.g. developing and implementing a strategy to deal with the company’s difficult financial situation, drawing up transaction documentation, and also negotiating with shareholders and institutions. We also advised on numerous aspects of the company’s restructuring.

The project was carried out by the Capital Markets and Financial Institutions Practice and led by Andrzej Foltyn and Magdalena Skowrońska. Work co-ordinator was Piotr Jackowski.