CTPartners Executive Search Inc. signed a letter of intent to acquire Neumann Leadership Holding GmbH from Nlh KG for $3.1 million.
The transaction is subject to Directors, Hans Jorda and Peter Malanik giving their resignations, having received from the lessor of the property in Austria unconditional consent to charge control of Neumann Leadership Holding GmbH, and Neumann Leadership Holding GmbH entering into agreement with Erste Bank der oesterreichischen Sparkassen AG whereby Erste Bank der oesterreichischen Sparkassen AG agrees to release and assignment of receivables and rights under credit agreement. The transaction is expected to close on or about December 1, 2014. Horst Ebhardt, Hartwig Kienast, Johanna Freudensprung, Walter Poschl, Roland Marko and Jiayan Zhu of WOLF THEISS Rechtsanwalte GmbH acted as legal advisor for CTPartners Executive Search Inc. Paul Schorgofer of Frotz Riedl acted as legal advisor to Neumann.