Austria: Schoenherr advises Tello Holding AG on acquisition of majority stake in VA Intertrading

The former VA-Tech CFO Dr. Hanno Bästlein has sold 100% of his shares in Kairos Industrie Holding GmbH to Tello Holding AG, which is owned by Swiss attorney-at-law and investor Dr. Wolfram Kuoni. Kairos Industrie Holding GmbH holds 37.34% of the shares in VAIT, which is a world-renowned trading company in food and feed, steel products, pharmaceutical products and agricultural machinery.

The origin of VA Intertrading lies in the voestalpine and the steel trade industry. Over the course of more than 40 years, its range has been extended to include many other goods and services, making the company Austria's long-running leading commodities trading company. The company employs about 770 people in 31 locations worldwide and has an average annual turnover of about EUR 800m.

Previously, Tello Holding AG had already acquired 14.99% of the shares in VAIT. The remaining shares of VA Intertrading AG are held by employee and management shareholding companies.

The Schoenherr team advising on this transaction consisted of Michael Magerl (partner) and Thomas Reich (associate).