Munich, 8 December 2015 – The international law firm BEITEN BURKHARDT has advised the globally operating industrial conglomerate Fair Friend Group (FFG) with headquarters in Taiwan on the takeover of MAG group, one of the leading suppliers of machine tools. The transaction volume amounts to more than EUR 200 mio.; the parties have agreed not to disclose the purchase price. The transaction was finalised on 30 November 2015.
FFG operates the business divisions Machine Tool Construction, Printed Circuit Board Technology, Industrial Equipment and Environmental Engineering. The acquisition of MAG group strengthens the position of FFG's machine tool division as one of the world's top addresses for machine tools. The acquisition also complements the already existing portfolio of FFG, thus expanding its supply of machine tools for the automotive industry.
Adding the seven MAG production sites to its own network, FFG now operates a total of 51 production sites in Taiwan, Germany, Italy, Hungary, Japan, South Korea, China, Switzerland, India and the USA, offering more than 32 trademarks produced by more than 6,000 staff members.
The team of BEITEN BURKHARDT has rendered advice on all issues under German and Russian law, and it has coordinated the advisors in the USA, China and Hungary. In the course of the takeover FFG will also implement a new group structure in Europe, a process for which BEITEN BURKHARDT also provides advice on corporate and tax law issues.
A BEITEN BURKHARDT team headed by the Munich Partner Dr. Axel Goetz already advised FFG in 2013 on the acquisition of the business division Industrial Equipment from MAG group. In 2015 the team headed by Philipp Cotta assisted FFG with the merger control notification regarding the takeover of a Swiss-German machine tool manufacturer.
Advisor FFG:
BEITEN BURKHARDT: Partner Dr. Axel Goetz and Associate Mario Weichel (both in charge), Associates Dr. Markus Ley and Moritz Kopp (all Corporate / M&A), Partner Dr. Hans-Peter Mechlem (Labour Law), Partner Philipp Cotta and Associate Christoph Heinrich (both Antitrust & Merger Control, all Munich), Partner Markus Möller (Frankfurt) and Associate Stephanie Wichmann (Munich, both Banking and Finance), Partner Dr. Sebastian Heim (IP), Partner Anja Fischer (Real Estate Law), Associate Franziska Schuierer (Public Law, all Munich), Partner Christian Freiherr von Buddenbrock, Associate Sarah-Denise van der Walt (both Pensions), Partner Mathias Zimmer-Goertz, Associate Dr. Claudio Chirco (both IT, all Dusseldorf), Partners Dr. Michael Hils (Munich) and André Suttorp (Frankfurt, both Tax) and Associate Anna Klimova (Antitrust & Merger Control, Moscow).
