Loyens & Loeff Luxembourg advised on the bid for the EUR 17bln acquisition of the elevator division of Thyssenkrupp AG
Our Banking & Finance and Tax teams advised certain lenders in connection with the financing of a successful bid for the acquisition of the elevator division of Thyssenkrupp AG by a consortium led by Advent, Cinven and the RAG-Stiftung.
Our Banking & Finance team, alongside our Tax team, advised certain lenders in connection with the financing of a competitive, and ultimately successful, bid for the acquisition of the elevator division of Thyssenkrupp AG by a consortium led by Advent, Cinven and the RAG-Stiftung.
The other bidding consortium of investors included Blackstone, Carlyle and Canadian Pension Plan Investment Board (CPPIB). Kone, a Finnish competitor of Thyssenkrupp AG had also made a bid, and subsequently withdrew from the race.
This is expected to be one of the largest-ever buyout transactions in Europe since the financial crisis. Thyssenkrupp AG will reinvest part of the purchase price in a reverse stake in the elevator technology business.
Headquartered in Germany, Thyssenkrupp Elevator is a leading international provider of elevator technology with operations in more than 1,000 locations worldwide and employing more than 10,000 people.
The Loyens & Loeff team was led in Luxembourg by Banking & Finance lawyers Anne-Marie Nicolas (partner), Richard Steichen (associate), Alvaro Garrido-Mesa (senior associate) and Louis-Guillaume Roldan (associate), with the support of Tax lawyers Nadège Le Gouellec (counsel) and Tom Hamen (associate).
Anne-Marie NicolasPartner Attorney at Law / Avocat à la Cour
Anne-Marie Nicolas, partner, is a member of the Banking & Finance Practice Group in our Luxembourg office. She focuses on secured lending, including acquisition finance and real estate finance, as well as debt restructuring.T: +352 466 230 314 E: email@example.com