Rheinmetall takes over Spanish ammunition manufacturer Expal Systems

Photo: Dr. Sönke Becker, Part­ner at Herbert Smith Freeh­ills Düsseldorf/ Frankfurt
15. Novem­ber 2022

Düsseldorf/ Frank­furt a. M. — Herbert Smith Freeh­ills advi­sed Düssel­­dorf-based Rhein­me­tall AG on the conclu­sion of a purchase agree­ment with Maxam­Corp. Holding S.L., Madrid, to acquire all shares in Expal Systems S.A., a global muni­ti­ons manu­fac­tu­rer. The closing of the tran­sac­tion, which is expec­ted to take place by summer 2023, is subject to anti­trust and other regu­la­tory reviews. The agree­ment between Rhein­me­tall and Maxam­Corp. The agreed purchase price is based on an enter­prise value of EUR1.2 billion.

Herbert Smith Freeh­ills advi­sed Rhein­me­tall with an inter­na­tio­nal team led by part­ners Dr. Sönke Becker (Corporate/M&A, Düssel­dorf) and Alberto Fras­quet (Corporate/M&A, Madrid).

Advi­sor Rhein­me­tall: Herbert Smith Freeh­ills Düsseldorf/ Frank­furt
Dr. Sönke Becker
(photo) (Lead, Corporate/M&A), Dr. Marcel Nuys (Compe­ti­tion), Dr. Marius Boewe (Regu­la­tory), Dr. Stef­fen Hoer­ner (Tax), Dr. Julius Brandt (Corporate/Capital Markets); Marjel Dema (Senior Asso­ciate, Corporate/M&A); Coun­sel: Dr. Chris­tian Johnen, Lena von Richt­ho­fen (both Corporate/M&A); Dr. Florian Huer­kamp (Compe­ti­tion); Asso­cia­tes: Tatiana Guens­ter (Tax), Mirko Gleits­mann, Caro­line Wendt (both Compe­ti­tion), Kris­tin Kattwin­kel, David Rasche (both Regulatory)

Madrid: Alberto Fras­quet (Lead, Corporate/M&A), Henar Gonza­lez (Compe­ti­tion), Tomas Diaz Mielen­hau­sen (Real Estate); Coun­sel: Marta Este­ban (Corporate/M&A), Pablo Garcia Mexia (Dispu­tes), Álvaro Gross (Real Estate), Esther Lumbre­ras (Public Law); Asso­cia­tes: Amparo de Leyva, Alejan­dro Hillage, Jacobo Jimé­­­nez-Poyato Narváez, Carmen Muñoz, Alvaro Silva (all Corporate/M&A), Igna­cio Jimé­­­nez-Poyato Narváez, Pablo de Vega Tremps (both Employ­ment), Beatriz Madri­gal, Lucía Tarra­cena Figar (both Real Estate), Miguel Ángel Barroso López, Monica de Hevia, Cata­lina Hierro (all Public Law), Jose Munoz (Compe­ti­tion), Miguel Alvar­gon­za­lez, Chris­tina Diez de Rivera, Jose Maria Faz (all Finance)

New York: James Robin­son (Corporate/M&A), Joseph Falcone (Dispu­tes); Asso­cia­tes: Lina Velez (Finance, Corporate/M&A), Tyler Hendry (Employ­ment)
Milan: Fran­ce­sca Morra, Iria Calvino; Asso­ciate: Giacomo Gavotti (all Corporate/M&A)
London: Vero­nica Roberts; Asso­cia­tes: Max Kauf­man, Agos­tino Bignardi (all Regulatory)
Kuala Lumpur & Singa­pore: Glynn Cooper; Asso­cia­tes Prakash Selvam, John Ling (all Corporate/M&A)
Brussels: Kyria­kos Foun­tou­ka­kos (Compe­ti­tion)

Subscribe newsletter

Here you can read about the latest transactions, IPOs, private equity deals and venture capital investments, who has raised a new fund, how Buy & Build activities are going.

Get in touch

Contact us!
fyb [at]