International law firm Bird & Bird has just completed a deal for Swedish state-owned LKAB, Europe’s largest iron ore producer, on a complex acquisition bringing together a full service team across the firm’s offices. The deal which enabled Minelco, a subsidiary of LKAB, to acquire the Fillers and Minerals Division of German based Stinnes AG, has been valued at €75m.
Minelco has acquired the Fillers & Minerals Division of Stinnes AG, one of the leading logistics companies worldwide. The division consists of production and distribution facilities for several industrial minerals in the UK, the Netherlands, Greece and China, a trading business in Germany and sales offices in several other countries.
Hugely complex, the deal involved a full service international team of Bird & Bird lawyers covering not only M&A and corporate issues but also complicated due diligence, competition, environment and property aspects. Lawyers in the firm’s offices in Düsseldorf, The Hague, London, Stockholm and Hong Kong were involved. Partner, Jörgen Ekström from the firm’s Stockholm office led the work.
Commenting on the deal, Per-Erik Lindvall, president of Minelco said:
“This acquisition of the Fillers and Minerals Division of Stinnes AG is an important strategic step for Minelco’s growth within the industrial minerals market, strengthening the position of Minelco in Europe while also allowing us to diversify the use of iron ore beyond steel. Bird & Bird were supportive and very efficient through all stages of the acquisition”.
Commenting on behalf of Bird & Bird, Jörgen Ekström added:
“Precisely because Bird & Bird’s strategy is focused on international expansion were we properly able to service our client. Within a week we had an international team working on complex due diligence issues arising from the UK, Germany, The Netherlands, Greece and China, including property and environmental issues in all jurisdictions, competition clearance issues between the UK and Germany and also on-site support in China. It was an enormous but very fulfilling project to have co-ordinated”.
Stinnes AG were advised by Freshfields.
For more information, please contact Jörgen Ekström on +46 8 506 320 00 or Larry Cattle, Director of Marketing on + 44 (0) 20 7415 6156.