KWM advises EUR 3.7 billion refinancing of Midea for KUKA acquisition

Cate­gory: Deals
28. Febru­ary 2018

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.

About KWM
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.

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