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VUKMIR + ASSOCIATES provided Croatian law support to Ludwig Pfeiffer Hoch- und Tiefbau GmbH & CO KG on the hive-down and sale of Croatian assets to a Croatian consortium of buyers

By July 19, 2024 No Comments

We’re excited to announce that VUKMIR + ASSOCIATES, in collaboration with Taylor Wessing and Reimer Rechtsanwälte as leading (German law) counsels, has successfully steered the process of hive-down of the Croatian assets of Ludwig Pfeiffer Hoch- und Tiefbau, and their subsequent sale of to a consortium of Croatian construction companies, AMM d.o.o. and Vodoprivreda Vinkovci d.d.

Ludwig Pfeiffer Hoch- und Tiefbau, renowned for their specialization in water supply and wastewater networks, has been under debtor-in-possession management. The hive-down, therefore, sets the stage for AMM d.o.o. and Vodoprivreda Vinkovci d.d. to take over and advance essential construction projects in Croatia.

This complex transaction, supported by a detailed insolvency and legal action plan, required not only the in-depth knowledge of the corporate restructuring, public procurement and FIDIC based contractual documentation and practice, but also the close coordination with the insolvency court, commercial registries, financial advisors, banks, boards of creditors, and, particularly important, local Croatian employers (contracting authorities) and the institutions for overseeing funding and implementation of these projects – water authorities in Zadar, Nin, and Sinj, backed by Hrvatske vode – to ensure their continuity and completion.

We are incredibly proud of our VUKMIR + ASSOCIATES team, including Partner Ivan Ćuk and Senior Associates Andrea Kožul Pedišić and Tea Cerinski, for their pivotal role in this successful outcome.

A huge thank you to everyone involved for their teamwork and professionalism. This successful transaction marks a significant milestone and highlights our dedication to providing top-notch legal services in corporate restructuring and M&A.