GÖRG provided comprehensive legal advice to VEDRA Pensions GmbH (‘VEDRA’) on the takeover of the German pension liabilities of AST Deutschland GmbH (‘AST’) by way of a buy-out.
The transaction is expected to be completed in June 2025.
VEDRA specialises in the assumption of pension obligations and currently serves several thousand beneficiaries. As part of the transaction, VEDRA will take over a pensioner company previously founded by AST and will bear all associated risks and financial obligations of the pension liabilities bundled there. Hedging takes place via a two-tier trust structure, which is managed within the VEDRA Group and ensures that the trust assets are used for the intended purpose.
AST Deutschland is a subsidiary of Arvedi AST, one of the leading manufacturers of stainless-steel products in Europe, with production facilities in Terni, Italy. Due to the restructuring of the AST Group's stainless-steel activities in Germany, it was necessary to find an experienced partner for the company pensioners in order to ensure the future of pension payments in Germany.
GÖRG provided VEDRA with comprehensive legal support during the transaction. The pension and labour law advice was provided under the lead management of Hamburg partner Burkhard Fabritius, who has many years of experience in advising national and international companies in these areas. The transaction and corporate law advice was provided under the lead management of Hamburg partner Prof Dr Stephan R. Göthel, who advises national and international companies and investors comprehensively in the areas of M&A, private equity/venture capital and corporate law.
Advisors VEDRA Pensions GmbH
GÖRG Partnerschaft von Rechtsanwälten mbB
Burkhard Fabritius, MBA (Lead, Partner, Labour and Employment Law, Hamburg)
Prof Dr Stephan R. Göthel, LL.M. (Lead, Partner, M&A/Corporate Law, Hamburg)
Rolf-Alexander Markgraf (Counsel, Labour and Employment Law, Hamburg)
Felix Schmidt (Associate, M&A/Corporate Law, Hamburg)
