Preiskel & Co advises global private investment company CoBe Capital on the acquisition of Sandvik’s Mining Systems Operations
Preiskel & Co (together with German firm Heuking) advised global private investment company CoBe Capital on various aspects of the acquisition of the divested Mining Systems operations of publicly listed company Sandvik.
The agreement was announced to the stock market on 18 July 2016. (The NASDAQ release is at (http://globenewswire.com/news-release/2016/07/18/856696/0/en/Sandvik-signs-agreement-to-divest-its-Mining-Systems-operations.html). Closing is expected in Q4/2016, subject to the satisfaction of certain conditions. The parties have agreed not to disclose the purchase price.
CoBe Capital specialises in acquiring and operating non-core and underperforming business units from global cooperation. The geographical focus of CoBe Capital is America and Europe. The company was founded in 1994 with headquarters in New York City and now has offices in Cologne and Zurich.
Sandvik is a high-tech and global engineering Group with about 45,000 employees offering products and services that enhance customer productivity, profitability and safety. Mining Systems is a supplier of design and engineering of material handling systems for the mining industry. In 2015 the Mining Systems operations, with 1,100 employees, had annual sales of 5 billion Swedish Krona.
Preiskel & Co corporate team was led by Senior Partner Daniel Preiskel and Senior Consultant Eran Tsafrir who worked on this transaction together with Dr Jörg aus der Fünten of the Cologne office of Heuking.
Senior Partner Daniel Preiskel’s comments:
“This is yet another example of Preiskel & Co’s corporate team advising an international client on a complex multi-jurisdictional transaction, working together with correspondent law firms across the globe.”