Leroy si Asociatii Advised Lactalis on Acquisition of Albalact Minority Stakes

04.25.2017 By Oana Gavrila

Law firm Leroy si Asociaţii advised the French group Lactalis on the procedure of withdrawal of the minority shareholders of Albalact, a procedure completing the takeover of Albalact by Lactalis.

This was the first significant voluntary takeover bid on the Bucharest Stock Exchange. The Leroy şi Asociatii team, consisting of Bruno Leroy, partner, Andreea Toma, partner and Mădălina Ivan, senior associate, advised the French group on all legal aspects in connection with the squeeze out procedure.

The shares of dairy producer Albalact were withdrawn from trading on the Bucharest Stock Exchange on Tuesday, April 18.

The company’s shares had been suspended from trading since November 23, 2016, and its market capitalization stood at RON339 million.

Lactalis, with revenue of nearly EUR17 billion and 61,000 employees, received approval to take over Albalact in July 2016.

Lactalis announced it would acquire 636.3 million shares, representing 97.49% of the share capital of Albalact whose portfolio includes the brands Zuzu, Fulga and Raraul.