お知らせ • Aug 01
Advent International Corporation, Cinven Limited, RAG-Stiftung and thyssenkrupp AG (XTRA:TKA) completed the acquisition of ThyssenKrupp Elevator AG from thyssenkrupp AG.
Advent International Corporation, Cinven Limited, RAG-Stiftung and thyssenkrupp AG (XTRA:TKA) signed definitive agreements to acquire ThyssenKrupp Elevator AG from thyssenkrupp AG for €17.2 billion on February 27, 2020. As part of the transaction, thyssenkrupp AG will reinvest and will acquire a substantial minority stake for €1.25 billion. As of May 4, 2020, Advent International Corporation and Cinven Limited have secured €2 billion in equity from Abu Dhabi Investment Authority, Singapore's state fund GIC and Germany's RAG Foundation, and the companies have approached some investors, including Brookfield and the Canada Pension Plan Investment Boar for more financing. The consideration is expected to be paid by the end of the current fiscal year. For the financial year ended 2019, ThyssenKrupp Elevator AG reported revenues of €8 billion. The transaction is subject to customary closing conditions, regulatory approvals and merger control approvals, although thyssenkrupp AG does not expect the competent authorities to have any reservations. The Board of Directors of thyssenkrupp AG approved the transaction. As of April 3, 2020, early termination notices has been approved by Federal Trade Commission. The acquisition was also approved following the early expiration of the waiting period. The transaction is expected to close by the end September 2020. As of June 18, 2020 EU commission approves the acquisition and expected to close on July 31, 2020. The sales proceeds will be utilized by thyssenkrupp AG to reduce debt and to advance the development of the remaining businesses and the portfolio.
JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to thyssenkrupp AG. Stefan Bressler, Roger Kiem, Denise Cerasani of White & Case acted as legal advisors to JPMorgan. Benjamin Leyendecker, Philip Goj, Adrian Maguire, Attila Oldag, Mark Aschenbrenner, David Higgins, Jacob Traff, Volkmar Bruckner, Rongjing Zhao, Chris Shield, Hugh O'Sullivan, Matthew Merkle, Anna Schwander, Michael Taufner, Shawn Anderson, Oded Schein, Daniel Hiemer, Sara Zablotney, Russel Light, Sarah Jordan, Matthew Sinclair-Thomson, Annie Herdman, Emma Flett, Joanna Thomson and Shawn Cooley of Kirkland & Ellis acted as the legal advisors to the bidding consortium led by Advent, Cinven and the RAG-Stiftung. Hans Diekmann of Allen & Overy acted as the legal advisor to RAG Foundation. Ralph Wollburg, Kristina Klaassen-Kaiser, Sebastian Benz, Christoph Van Lier, Arne Kießling of Linklaters, Martin Klusmann and Juliane Ziebarth of Freshfields Bruckhaus Deringer acted as the legal advisors to Thyssenkrupp. Carsten Kruchen of Mutter & Kruchen acted as legal advisor to Alfried Krupp von Bohlen and Halbach Foundation, the anchor shareholder of Thyssenkrupp. Deutsche Bank Securities Inc. acted as financial advisor to thyssenkrupp AG. Rothschild Lieberman LLC acted as financial advisor to Advent International Corporation. Rothschild Lieberman LLC acted as financial advisor to Advent International Corporation, N M Rothschild & Sons Limited acted as financial advisor to Cinven Limited and Rothschild GmbH acted as financial advisor to RAG-Stiftung. Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft acted as due diligence provider to Cinven Limited and Advent International Corporation. Lazard acted as financial advisor to Alfried Krupp von Bohlen and Halbach Foundation, the anchor shareholder of Thyssenkrupp. Joost den Engelsman, Joost Kloosterman, Homme ten Have and Frans Overkleeft of NautaDutilh Avocats Luxembourg acted as legal advisor to Advent, Cinven and RAG-Stiftung. Anne-Marie Nicolas and Nadège Le Gouellec of Loyens & Loeff acted as legal advisor to the lenders in the transaction. goetzpartners HOLDING GmbH & CO. KG acted as financial advisor to Advent International Corporation, Cinven Limited and RAG-Stiftung in the transaction. Jennifer Honeyman, Rachel Hutton, Gary Clark, Cheryl Rea and Tia Eisner of Stikeman Elliott LLP acted as legal advisor to Advent International Corporation. Macquarie Capital acted as the advisor to the supervisory board of thyssenkruppAG.
Advent International Corporation, Cinven Limited, RAG-Stiftung and thyssenkrupp AG (XTRA:TKA) completed the acquisition of ThyssenKrupp Elevator AG from thyssenkrupp AG on July 31, 2020.