Power and Place – A Regulatory Guide to Data Centre Developments in Europe
20 July 2026
GRILLO-Werke AG, an internationally operating specialty chemicals company active in the zinc and sulphur sectors, has comprehensively restructured its debt financing as part of the GRILLO Group’s long-term restructuring and readjustment. As part of a complex transaction utilising court proceedings, existing promissory note financing was replaced by a subordinated loan arranged by Davidson Kempner Capital Management – advised by Birkenstein Capital – as part of a long-term commitment. In parallel, the syndicated group financing was extended for the duration of the operational reorganisation, with the involvement of Davidson Kempner and some of the former promissory note investors, in order to stabilise the financing structure in the long term and to open a new chapter for a family-owned business with over 180 years of history.
Hengeler Mueller provided GRILLO-Werke AG with comprehensive advice on the restructuring, company law and financing aspects.
Hengeler Mueller team for GRILLO-Werke AG
Restructuring/Financing: Johannes Tieves (Partner, Frankfurt), Jasper Bothe (senior associate, both lead), Julian Franke, Jork Greeve (both associate, all Berlin),
Dispute Resolution: Mathäus Mogendorf (partner, Berlin), Alexander Ruckteschler (senior associate, Frankfurt),
Corporate: Christian Wentrup (partner), Dr. Marc Zuber (counsel, both Düsseldorf),
Antitrust/FDI: Philipp Otto Neideck (partner), Barbara Boytinck, Daniel Higer (both senior associate, all Düsseldorf).
