Ashurst, Indian Law Partners & Schoenherr advise HS Timber Group, Blue Minds on sale of Germany’s GMB & Interfloat to Borosil Renewables

By LE Desk

New Delhi, December 22, 2022:  Ashurst Germany, Indian Law Partners (ILP) and Schoenherr Attorneys, Austria have advised Austrian HS Timber Group and Blue Minds on the sale of Interfloat Corporation and GMB Glasmanufaktur Brandenburg GmbH to Borosil Renewables Ltd, an Indian listed company.

Indian Law Partners (ILP) advised HS Timber Group and Blue Minds on the Indian law aspects, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Counsel Nishant Kulhari, Senior Associate Shradha Sharma and Associates Vinayek Mehra & Shweta Chadha, the Law Firm said in a press statement..

Ashurst Germany, led by Counsel Volker Germann and Schoenherr Attorneys, Austria led by Partners Christian Herbst and Maximilian Lang acted as international counsel for HS Timber Group and Blue Minds.

The consideration in the deal involved both cash consideration and share swap, the statement said.

Based in Vienna, HS Timber Group is one of the leading wood processing companies in Europe. Blue Minds Group, a private equity group, specialises in innovations in the energy and infrastructure sectors and operates from Vienna, Munich, and Tel Aviv.

Liechtenstein-based Interfloat and Germany-based GMB Glasmanufaktur Brandenburg specialise in the production and distribution of solar-glass and special types of glass for photovoltaic applications and green houses.

Borosil Renewables is engaged in the manufacturing of low-iron-textured solar glass for applications in photovoltaic panels, flat-plate collectors, and greenhouses.