Bird & Bird advises Lenovo on public takeover of Medion group

03 June 2011

Bird & Bird has advised Hong Kong listed Lenovo Group Limited, the world’s fourth largest manufacturer of personal computers with a yearly turnover of $21 billion, on its public takeover of German listed company Medion AG. The transaction will be valued at approximately €629 million.

Lenovo has acquired about two thirds of the shares held by the founder, CEO and majority shareholder of Medion AG, Gerd Brachmann, via its wholly-owned subsidiary Lenovo Germany Holding GmbH. This corresponds to about 36.6% of all Medion shares and the agreement also gives Lenovo an option on Brachmann’s remaining shares.

Lenovo intends to launch a voluntary public takeover offer to acquire all other Medion shares for a consideration of €13 per share.

Alexander Schröder-Frerkes, Lead Partner on the deal and Joint Head of Bird & Bird’s International Corporate Group, commented: “It is a privilege to advise on one of the first major takeovers of a German listed company by a Chinese group. This deal is an example of how our strategic presence in Asia and technology related sector focus, in particular our broad experience in the IT sector, have substantially paid off.”