KION Group Completes Equity Offering
12.09.20
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Simpson Thacher represented German headquartered KION GROUP AG (“KION”) as U.S. counsel in connection with its capital increase by way of an equity rights offering against cash contributions. KION issued 13,108,647 new shares, representing approximately 11% of its share capital before the transaction. KION’s existing shareholders were granted indirect subscription rights to subscribe for the new shares, with the remaining shares that remained unsubscribed being offered to selected qualified investors in a private placement. The gross issue proceeds of approximately €813 million are expected to be used to reduce the KION group’s (the “KION Group”) existing indebtedness.
The KION Group is one of the world's leading providers of industrial trucks and supply chain solutions. Its portfolio encompasses industrial trucks, such as forklift trucks and warehouse equipment, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group's solutions improve the flow of material and information within factories, warehouses, and distribution centers.
The Simpson Thacher team included Nick J. Shaw, Rainer C. Adlhart and Dominik Juster (Capital Markets); and Meredith B. Jones and William Smolinski (Tax).