OCTOBER 2013

Transactions

127 PERUSa EXItS KaMMann MaScHInEnBaU In tRadE SaLE

Following the planned takeover of Flexotecnica an Italian press manufacturer active in the growing print market for flexible packaging (film) in February, Koenig & Bauer (KBa) now announces a further acquisition in a luxury segment of the packaging printing sector. KBa is continuing its successful niche strategy with the majority takeover of KaMMann Maschinenbau GmbH in Bad oeynhausen, Germany. the world’s second-largest press manufacturer aims to expand into this growing market to counteract the shrinking sales volume of web presses for publications heavily affected by the advance of online media.

Koenig & Bauer takes over 85 % of KAMMANN Maschinenbau GmbH. The previous majority shareholder, private equity firm Perusa in Munich, and the management has successfully restructured and realigned this medium-sized press manufacturer over the last years. KAMMANN’s two managing directors Matthias Graf and Dr. Christian Maas will continue to hold a 15% stake. All parties have agreed not to disclose any further details concerning the takeover at this time. The acquisition is still subject to minor formal conditions.

Freundl Wollstadt & Kollegen provided Legal Advice (corporate, M&A) on this transaction, led by Hartmut Wollstadt (Lawyer Tax Consultant), Partner of FREUNDL WOLLSTADT & Kollegen GbR. LM

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KUWaIt FoREIGn PEtRoLEUM EXPLoRatIon coMPanY

(KUFPEc) SEcURES $750M Loan FacILItY

Kuwait Foreign Petroleum Exploration company (“KUFPEc”), a wholly owned subsidiary of Kuwait Petroleum corporation (“KPc”), recently announced the signing of US$ 750 million five year term loan facility jointly coordinated between J.P. Morgan Limited and national Bank of Kuwait S.a.K. (nBK) in addition to nBK appointed as the Facility agent. KUFPEc mandated the Bank of tokyo-Mitsubishi UFJ, Ltd., HSBc, J.P. Morgan Limited, national Bank of Kuwait S.a.K. and the Royal Bank of Scotland plc as Joint Bookrunners and Initial Mandated Lead arrangers. Participation of the Mandated Lead arrangers: Europe arab Bank plc, arab Banking corporation (B.S.c.), arab Petroleum Investments corporation (aPIcoRP), Burgan Bank S.a.K, commercial Bank of Kuwait (S.a.K.), Gulf Bank K.S.c, national Bank of abu dhabi P.J.S.c., natixis, qatar national Bank Saq, Union national Bank PJSc. the arrangers consisted of al ahli Bank of Kuwait K.S.c, BBK and Scotiabank Europe plc.

The new facility funds will be used for KUFPEC’s general corporate purposes and international expansion plans. KUFPEC is currently active with 60 Exploration & Production projects within 14 countries world-wide. KUFPEC’s 2020-2030 strategic plan is to increase its daily oil/gas production level to 200MBPD and oil reserves to 650MB.

ASAR acted as Kuwait law counsel to the lead arrangers and facility agent under the $750 million syndicated loan facility to Kuwait Foreign Exploration Company (KUFPEC). The five-year syndicated loan will be used for KUFPEC’s general corporate purposes and to finance its international expansion plans. Rob Little (Partner) and John Cunha (Partner) led the ASAR team on this transaction. LM

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Kammann Maschinenbau

Kufpec