Shearman & Sterling advised Japanese company Mori Seiki Co., Ltd. on its increased shareholding in German machine tool manufacturer Gildemeister Aktiengesellschaft (“Gildemeister”) and the participation in a subsequent capital increase with subscription rights.
Mori Seiki’s stake in Gildemeister has been increased to 24.9% (calculated on the basis of total issued share capital, less treasury shares, and representing 24.3% of the total share capital). The increased shareholding in the MDAX-listed company, based in Bielefeld, Germany, was part of a capital increase by way of contribution in kind. The parties agreed to issue approximately 3.2 million new shares in Gildemeister. In return, Mori Seiki is contributing 19% of the shares of Mori Seiki Manufacturing USA, Inc. and 44% of the shares of Magnescale Co., Ltd. to Gildemeister.
Mori Seiki was founded in 1948 and is headquartered in Nagoya, Japan. The company specializes in manufacturing NC/CNC controlled machine tools and has production sites in Japan and Switzerland.
Gildemeister holds a leading position worldwide as a producer of cutting machine tools. Its range of products includes innovative high-tech machines and services, as well as software and energy solutions.
The Shearman & Sterling team included partners Kenneth Lebrun (Tokyo-Mergers & Acquisitions) and Thomas König (Frankfurt-Mergers & Acquisitions); counsel Andreas Löhdefink (Frankfurt-Mergers & Acquisitions); and associates Joe M. Sasanuma (Tokyo-Capital Markets), Simon Weiß (Frankfurt-Capital Markets) and Gordon Palmquist (Tokyo-Mergers & Acquisitions).
