thyssenkrupp: Gleiss Lutz advises FLSmidth on the acquisition of tk Mining Business

​A Gleiss Lutz team advised the Danish group FLSmidth & Co. A/S on the acquisition of the Mining Technologies business unit from thyssenkrupp Industrial Solutions AG, a wholly owned subsidiary of thyssenkrupp AG. Closing of the EUR 325 million (approximately DKK 2.4 billion) transaction is expected in the second half of 2022 and still subject to customary regulatory clearances.

FLSmidth is listed on NASDAQ OMX Nordic Copenhagen. The company develops and produces sustainable engineering, equipment and service solutions for the mining and cement industries worldwide, with the objective of minimising the industry's environmental footprint. It employs around 10,200 people in more than 60 countries and generated a turnover of DKK 16.4 billion in 2020.

thyssenkrupp Mining Technologies is a leading supplier of solutions for open pit mining technology and the transport, crushing and processing of raw materials. The company operates in 24 countries and employs around 3,400 people. In 2020, tk Mining Technologies generated total sales of EUR 780 million (approximately DKK 5.8 billion).

The following Gleiss Lutz team advised FLSmidth in the course of the transaction: Dr. Ralf Morshäuser (partner, Munich), Dr. Patrick Kaffiné (partner), Dr. Christian Cascante (partner, both Frankfurt, all lead), Dr. Maike Sauter (Stuttgart), Dr. Tobias Falkner (counsel, Munich), Andrej Popp, Dr. Julia Müller (all M&A), Yvonne Gerster (all Frankfurt), Nikolas Frey (Stuttgart, all M&A), Dr. Doris-Maria Schuster (partner), Dr. Daniela Mayr, Alexandra-Helene Schwager (all Hamburg), Dr. Jens Günther (partner), Dr. Matthias Böglmüller (both Munich), Dr. Sebastian Ernst (Stuttgart, all Employment), Dr. Jacob von Andreae (partner), Aylin Hoffs (both public business law), Dr. Alexander Nagel (counsel, Restructuring, all Düsseldorf), Konrad Discher (counsel, Real Estate Frankfurt).

The Danish law firm Kromann Reumert acted as lead counsel.