Leading global law firm Baker McKenzie has advised the international technology group Körber AG in the sale of United Grinding Group, Körber's Business Area Machine Tools. Following the approval of the relevant supervisory authorities, the transaction has been closed with effect from the end of June 29, 2018. The new ownership structure consists of a strategically oriented pool of investors organized by the Swiss BZ Bank Aktiengesellschaft.

In order to strengthen the very positive development of United Grinding Group in recent years, comprehensive strategic options for Körber's Business Area Machine Tools have been examined. "In the course of this, we have decided that a new strategic owner can open up further development opportunities for the United Grinding Group in order for them to continue to lead and actively shape their market in the future", comments Stephan Seifert, Chairman of the Executive Board of Körber AG. "We are pleased that we have found solid and future-oriented new owners who will consistently continue the successful course taken so far".

"We are very pleased that we were able to support the successful sale of the United Grinding Group," commented Martin Furrer, partner in Zurich. "With our cross-border transaction strength we were in the position to support our client efficiently and successfully."

The machine tool manufacturer United Grinding Group is one of the world's leading suppliers of precision machines for grinding, eroding, laser machining, combination machining and measuring processes. The group employs around 2,400 people at more than 20 production, service and sales locations worldwide.

Körber AG is the holding company of an international technology group. The Group unites leading technology companies with more than 130 production, service, and sales companies. At locations around the globe, Körber AG combines the advantages of a global presence with the strengths of highly specialized and flexible medium-sized companies to offer its customer solutions, products, and services in the Business Areas of Automation, Logistics Systems, Pharma Systems, Tissue and Tobacco, as well as Corporate Ventures and Körber Digital.

Baker McKenzie provided comprehensive advice to Körber AG with regard to all legal and tax aspects of the transaction. The Baker McKenzie team was led by Martin Furrer (Partner Zurich, overall lead), Ingo Strauss (Partner Dusseldorf, Corporate/M&A), Matthias Courvoisier (Partner Zurich, Capital Markets) and Susanne Liebel-Kotz (Senior Associate Zurich, Tax), and comprised a team from more than ten countries, including Maximilian Wolf, Muriel Pasche, Yves Mauchle, Lena von Richthofen and Christophe Reitze.
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