King & Wood Mallesons (KWM) advised a consortium of banks lead by Bank of China, ICBC, China Construction Bank and Export-Import Bank of China, in the EUR 3.7 billion Refinancing of Midea Gruppe in connection with the acquisition of German KUKA AG.
KUKA AG, one of the leading producers of intelligent automation solutions, was acquired by Chinese Midea Group in 2016. Initially, Midea Group agreed a short term acquisition financing, which was now refinanced for a longer term.
The new facility, which was arranged by a consortium of banks lead by Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Export-Import Bank of China has a volume of EUR 3.7 billion and a term of up to 5 years.
This refinancing was lead by partners Lv Yinghao and Yang Xiaoquan in China and partner Rudolf Haas in Frankfurt. This engagement confirms the strength of KWM in corporate finance transactions, in particular with an Asian dimension.
Team:
King & Wood Mallesons, Deutschland
Rudolf Haas (Partner), Daniel Ehret (Partner)
King & Wood Mallesons, China
Lv Yinghao (Partner), Yang Xiaoquan (Partner), Tian Yu, Qiu Liang
