NautaDutilh is pleased to have successfully advised Advent and Cinven on the financing of the largest financial buy-out since 2007, the acquisition of Thyssenkrupp's elevator business.
Our broad service offering was key to our involvement in this matter. A team led by Joost den Engelsman and Joost Kloosterman first advised on the corporate, notarial, employment, tax and financial aspects of the buy-out. Subsequently, a team led by David Vietor, with Dewi Walian and Stephan Huis in het Veld as key members, advised on the financing for the acquisition, including highly anticipated dual-currency loan and bond financing.
"Multi-party financing transactions can always be a bit of a pressure cooker, even more so if the markets are unsettled and teams are largely working from home," says Dewi. "These circumstances definitely added a new dynamic to the deal. In addition, the commercial terms for the financing, particularly the covenants, were heavily debated between our clients and potential investors. Therefore we were all the more pleased to see that, at the end of the day and even in the current unpredictable market, the financing round was oversubscribed. This was a great success for our clients, to which we are very happy to have been able to contribute."