benpac holding ag agreed to acquire Gallus Holding AG, Gallus Ferd. Rüesch AG, Gallus Druckmaschinen GmbH, Heidelberg Web Carton Converting GmbH and Menschick Trockensysteme GmbH from Heidelberger Druckmaschinen Aktiengesellschaft (XTRA:HDD) for approximately €120 million on July 22, 2020. The parameters will be finalized at the time of closing. In the future, Heidelberg and benpac will work together closely on the Gallus Labelfire digital label press. Heidelberg will continue supplying the digital printing unit (DPU) and consumables for this press. 430 employees will also be transferred to benpac holding ag. The sale, which still needs to be approved by the relevant bodies and is subject to other condition precedents, is set to take effect before the end of 2020. As of December 23, 2020, all conditions for closing are met. As of December 23, 2020, the transaction is expected to close by the end of January 2021. Heidelberg is expecting the deal to generate earnings in a certain range. GCA Altium Limited acted as financial advisor to benpac holding ag. Benjamin Parameswaran, Philipp Clemens, Henriette Norda, Verena Grentzenberg, Sebastian Decker, Roland Maass, Mike Danielewsky, Marco Arteaga, Burkhard Führmeyer, Semin O, Thilo von Bodungen, Jan Geert Meents, Jan Pohle, Kerstin Schnabel, Oliver Otto, Dennis Hog, Daniel Zapf, Sergej Bräuer, Philipp Clemens, Thorsten Ammann, Susanne Weckbach, Annemarie Bloß, Juliane Hack, Miray Kavruk, France Vehar, Hubertus Neu, Gregor Schroll, Liane Bednarz, Michael Georg Ziegaus, Georg Haberkorn, Olga Blaszczyk, Fabian Hafenbrädl and Philippa Eggers of DLA Piper Germany; Thomas Loher and Arlette Pfister of Thouvenin Rechtsanwälte acted as legal advisors to Heidelberger Druckmaschinen Aktiengesellschaft. Jon Marcus Meese, Martin Frey, Julia Braun, Katja Heuterkes, Thomas Gierath, Boris Wenger, Julia Kaufmann, Oliver Socher and Silke Fritz of Baker & McKenzie acted as legal advisors to benpac holding ag.