KWM advises EUR 3.7 billion refinancing of Midea for KUKA acquisition
Frankfurt a.M. — King & Wood Mallesons (KWM) advised the bank consortium, led by Bank of China, ICBC, China Construction Bank and Export-Import Bank of China, on the EUR 3.7 billion refinancing of Midea Group regarding the acquisition financing provided for the acquisition of KUKA AG.
KUKA AG, one of the world’s leading suppliers of intelligent automation solutions, was acquired by the Chinese Midea Group in 2016. For this purpose, Midea initially raised short-term acquisition financing, which has now been replaced by longer-term financing.
The new loan, arranged by a consortium of banks led by Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Export-Import Bank of China, has a volume of approximately EUR 3.7 billion and a maturity of up to 5 years.
This refinancing was led in Germany by Rudolf Haas (photo), partner at King & Wood Mallesons in Frankfurt. The advice to the clients was provided in close cooperation with a KWM team from China led by Lv Yinghao and Yang Xiaoquan and again illustrates the strength in corporate finance transactions, also with an Asian connection.
KWM Europe Rechtsanwaltsgesellschaft mbH is a law firm founded in 2017 and based in Frankfurt am Main. We advise our clients — national and international companies, entrepreneurs, managers, banks and private equity houses — at the highest level on all legal issues related to investment acquisitions (M&A) and other corporate finance transactions, including the relevant tax and capital markets law aspects. We provide pragmatic answers to our clients’ legal challenges. Our multidisciplinary, integrated advisory approach and the seamless integration into one of the largest commercial law firms worldwide, King & Wood Mallesons, with its well over 2,000 lawyers working in 27 offices, allow us to advise medium-sized clients, financial investors or international groups on cross-border as well as purely national transactions or financing. Professional excellence, a friendly and cooperative approach and a commercial consulting approach characterize our work.