IMAP advised on the sale of a Hungarian steel service center

The German Thyssenkrupp AG acquired 100 % of the shares in the Hungarian subsidiary Ib Andresen Industri Magyarország Kft. of the Danish IAI Holding A/S.

In the course of their M&A strategy, Thyssenkrupp further strengthens its presence in Eastern Europe by the strategic acquisition of the steel service center in Győr, which was built by Danish Ib Andersen Industri A/S in 2004. Thyssenkrupp had already established its presence in Hungary through an acquisition back in 1997 and this new acquisition provides the basis for them to expand their production capacity in Hungary by up to approximately 200k tons per year and strengthens its regional positioning within the automotive-supply-sector. Going forward, the company will operate under the name Materials Processing Hungary Kft.

The transaction was approved by the Hungarian Competition Authority (GUH) in February.

IMAP initiated the international transaction process on behalf of the shareholder family of IAI Holding and due to IMAP’s global presence in more than 35 countries was able to successfully structure this cross-border deal.