OREANDA-NEWS. July 21, 2008. Vilnius office team advised Nordzucker AG - one of the leading sugar producers owning 15 sugar factories in Europe in acquisition of another market leader in the Europe - Danisco Sugar A/S from Danisco A/S for a consideration of 750,5 MEUR, reported the press-centre of Sorainen.

The acquisition followed an auction process, which was initiated after the board of Dansco announced on 4 March 2008 that it would separate Danisco Sugar either by way of a divestment or a demerger.

In addition to the consideration, Danisco is receiving cash proceeds from its sale of a 2007/2008 EU quota for 80,41 MEUR.

Partner Laimonas Skibarka and senior associates Dr Lauras Butkevicius and Agne Jonaityte advised Nordzucker AG on various transaction issues related with the target's Lithuanian, Latvian and Estonian operations, including conduction of legal due diligence, advice on financing of the transaction and merger control issues.