Matthias Horbach
Dr. Matthias Horbach is a German-qualified attorney and has been practicing law since 1995. He focuses on mergers and acquisitions, corporate finance and various other corporate transactions.

Bio

Dr. Horbach advises a broad range of clients on domestic and cross-border transactions, including inbound and outbound investments and other corporate transactions into and out of Germany. He represents clients in acquisitions, dispositions, cross-border mergers, joint ventures and public takeover transactions. His clients are, in particular, industrial companies, private equity investment firms and investment banks. In the corporate finance area, he advises banks and borrowers in acquisition finance and other banking transactions. He also represents clients in intragroup restructurings, corporate governance matters and other areas of corporate law, including negotiating major commercial agreements and assisting with respect to distressed and insolvent German corporations.

His representative M&A matters include:

  • LetterOne Holdings SA, a group of Russian investors led by Mikhail Fridman, in its:

    • US$1.6 billion acquisition of E.ON E&P Norge AS from E.ON Beteiligungen GmbH; and
    • US$725 million sale of DEA UK Holdings Limited to Ineos AG;
  • Gilead Sciences Inc., a research-based biopharmaceutical company, in its acquisition of the Farnesoid X Receptor program for the treatment of liver diseases from Phenex Pharmaceuticals AG;
  • Ball Corporation, a metal and plastic packaging producer for the food, beverage, aerospace and defense industries, in its proposed US$8.4 billion acquisition of Rexam PLC;
  • Coty Inc., a manufacturer of beauty products, in its merger with the fine fragrance, color cosmetics and hair color businesses of The Procter & Gamble Company in a tax-free Reverse Morris Trust transaction;
  • Mitsui Engineering & Shipping Co., Ltd. in its US$183.6 million acquisition of a 99.4 percent stake in TGE Marine AG;
  • Archer Daniels Midland Company, a producer of food ingredients, renewable fuels and naturally derived alternatives to industrial chemicals, in its acquisition of Wild Flavors in an all-cash transaction valued at €2.3 billion enterprise value;
  • Merck KGaA, a biotechnology and pharmaceutical company, in the:

    • US$17 billion acquisition of Sigma-Aldrich Corporation; and
    • US$6.7 billion sale of its worldwide generic drugs business to Mylan Laboratories Inc.;
  • Halder Beteiligungsberatung GmbH, a private equity firm, in its acquisition of Amoena Medizin-Orthopädie-Technik GmbH, a manufacturer of prostheses and personal care products for women;
  • Visteon Corporation, a manufacturer of auto parts, in its US$265 million acquisition of the automotive electronics business of Johnson Controls Inc.;
  • Cheil Industries Inc., a manufacturer of diversified products, and Samsung Electronics Co. Ltd., in their US$348 million acquisition of a majority stake in Novaled AG;
  • Excelitas Technologies Corp. in its acquisition of Qioptiq S.a.r.l. Both companies are manufacturers of electronic and optical components;
  • The Vitol Group, an oil producer, in the formation of Varo Energy B.V., a joint venture with The Carlyle Group LP, to create a major midstream energy group across northwest Europe;
  • the management of HSE24, a television shopping channel, in connection with HSE24’s sale by AXA Private Equity to funds advised by Providence Equity Partners LLC and in their re-investment in the company. This transaction was named Private Equity Deal of the Year for 2012 at the 2013 IFLR European Awards;
  • GSI Commerce, Inc., a provider of e-commerce services, in its US$8.2 million acquisition of a 12 percent stake in Intershop Communications AG. The acquisition was part of a strategic distribution agreement between GSI and Intershop;
  • BlackRock, Inc. in its US$20 billion acquisition of Barclays Global Investors from Barclays Bank PLC. The transaction created the world’s largest asset management firm, operating under the name BlackRock Global Investors, with combined assets under management of over US$3.2 trillion;
  • Sundram Fasteners Limited in the acquisition and later disposition of Peiner Umformtechnik GmbH;
  • Deutsche Bank AG in its acquisition of the Global Agency Securities Lending business of Dresdner Bank AG from Commerzbank AG;
  • NTT Communications Corporation in its US$106 million acquisition of Integralis AG by way of public takeover offer;
  • Permira Funds, a private equity firm, in the US$2.3 billion sale of Jet Aviation Holding AG by Dreamliner Lux S.a.r.l. (a company controlled by Permira Funds) to General Dynamics Corporation. This was named European Deal of the Year for 2008 by Buyouts magazine;
  • Evonik Industries AG, a chemical producer, in the divestiture of all shares of Ruetgers Chemicals GmbH to Triton Beteiligungs-beratung GmbH, a private equity firm; and
  • UCB S.A., a biopharmaceutical company, in its US$5.6 billion acquisition via a tender offer of Schwarz Pharma AG.

Dr. Horbach’s selected experience in the banking and corporate finance area includes advising, among others:

  • J.P. Morgan in the financing of Deutsche Annington Immobilien SE’s €3.9 billion public takeover bid for all of the outstanding shares in GAGFAH S.A. The financing comprises, among other things, a syndicated bridge facilities agreement to fund the cash consideration of the shares in GAGFAH and to refinance certain existing financial indebtedness of GAGFAH. The combination of Deutsche Annington and GAGFAH creates the second-largest listed real estate company in continental Europe with a portfolio comprising around 350,000 residential units;
  • Ball Corporation in the amendment and extension of an existing senior secured credit facility with a new US$1.2 billion senior secured credit facility extending the maturity to 2018;
  • Eco-Bat Finance PLC, a subsidiary of Eco-Bat Technologies Limited (a producer of refined lead), in its €300 million private high-yield offering of 7.75% senior notes due 2017;
  • Insight Enterprises, Inc., a provider of information technology hardware, software and services, in connection with its US$350 million senior secured credit facilities and secured floorplan loan facility;
  • MAHLE Metal Leve S.A., an automotive parts manufacturer, and its parent company, MAHLE GmbH, in a US$198 million Rule 144A/Regulation S secondary follow-on offering of common shares of MAHLE Metal Leve on the São Paulo Stock Exchange;
  • J.P Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers and joint bookrunners, JPMorgan Chase Bank, N.A. as syndication agent and as a lender, and Bank of America, N.A. as administrative agent in connection with a US$225 million senior secured incremental term loan facility for Novelis Inc. that was provided through an amendment to its existing term loan credit agreement. The proceeds of the incremental term loans were used by Novelis to partially finance its acquisition of a portion of the outstanding minority interests in its Korean subsidiary; and
  • TSO Europe Funds, Inc. in various offerings of units in closed-end funds and asset investments in the aggregate amount of €300 million.

Credentials

Education

  • Dr. jur., University of Munich, 1996
  • Second State Exam, State of Bavaria, 1994
  • First State Exam, State of Bavaria, 1991
  • Studies in Göttingen, Heidelberg and Munich

Admissions

  • Frankfurt am Main

Matthias Horbach

Partner, Mergers and Acquisitions; Corporate Finance
matthias.horbach@skadden.com