Kocián Šolc Balaštík has advised Boels with Czech aspects on over €1 billion financing of Boels' acquisition of Cramo by way of public offer10/03/20 / News
Kocián Šolc Balaštík has advised Boels Topholding B.V. (Boels) with Czech aspects on a term loan and a revolving credit facility for Boels of over €1 billion provided by a bank syndicate consisting of Credit Suisse International, ING Bank N.V., ABN AMRO Bank N.V., Coöperatieve Rabobank U.A. and BNP Paribas Fortis NV/SA as mandated lead arrangers, physical bookrunners and underwriters.
The financing was used to acquire all shares in Cramo plc (Cramo), a company that is listed on the Nasdaq Helsinki stock exchange. Boels acquired the shares by means of a voluntary recommended public cash tender offer, a subsequent offer, open market purchases and a subsequent squeeze out. Additionally, the loan financing serves to refinance existing indebtedness of both Boels and Cramo.
The voluntary takeover offer valued Cramo at approximately €614 million. The proposed acquisition seeks to create a leading pan-European player in the equipment rental market, with businesses in 17 countries, and a top three position in 12 of those countries. The combined company is expected to have annual revenues of approximately €1.25 billion and one of the largest depot networks in Europe, with more than 750 facilities.
The Kocián Šolc Balaštík team included Martin Krejčí (partner) and Ivo Průša (senior associate).