Global law firm White & Case LLP has advised Nordea Bank Abp as the exclusive arranger and underwriter on the financing arrangements for the planned combination of Cargotec Oyj and Konecranes Oyj.
The proposed combination will be implemented as a statutory absorption merger whereby Konecranes will be merged into Cargotec, creating a global leader in sustainable material flow with combined annual sales of approximately €7 billion. Both companies are listed on the Nasdaq Helsinki.
The financing arrangements comprise €935 million term loan facilities for Konecranes and a €400 million term loan facility for Cargotec. The facilities may be used to refinance the companies’ existing indebtedness in connection with the merger, potential cash redemptions of Konecranes’ shares as well as Konecranes’ extra distribution proposed to be distributed prior to the completion of the merger.
The White & Case team which advised on the transaction was led by partner Tanja Törnkvist (Helsinki) and includes partner Ben Wilkinson (London) and associates Henna Viljakainen, Kasper Paasikallio (both Helsinki) and Olaolu Akerele (London).
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