Herbert Smith Freehills has recently advised ICBC Paris on the financing of Midea Group's €5 billion voluntary bid for all shares in German robotics specialist, Kuka AG.
Mecca International, an entity indirectly owned by Chinese biggest home-appliance maker Midea Group, has offered €115 in cash per share to the shareholders of Kuka AG, one of the leading providers of robotics for the automobile industry, by way of a voluntary public takeover offer to their shares in the company.
The completion of the offer will be subject to a number of conditions, including a minimum acceptance condition of 30% of the issued shares of Kuka AG, receipt of necessary antitrust and regulatory clearances and the approval of the shareholders' general meeting of Midea Group.
A cross-office team from Herbert Smith Freehills is advising ICBC Paris as sole Mandated lead arranger and Bookrunner on the transaction. The team was led by Paris finance partner Laure Bonin, assisted by Romain Guirault. They were assisted by Eric Fiszelson (partner), Gwenael Pain-Blavec and Ariane Schembri on regulatory aspects, Frankfurt colleagues Markus Lauer (partner) and Julius Brandt on corporate matters, Kai Liebrich (partner) and Adrian Juhnke on finance matters, as well as Hong Kong partner Alexander Aitken and associate Catherine Hau on finance aspects.
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