Events | March 23, 2018

The Business, the Journey and the Lessons Learned – Roschier hosts Housewarming Seminar with Konecranes and Skadden

The first seminar at our brand new premises in Helsinki was held on Thursday 15 March together with cand Skadden. The topic of the seminar was one of the most complex cross-border transactions in Finnish industrial history, where Konecranes acquired the MHPS Business from Terex after the parties had replaced the Business Combination Agreement signed in August 2015 with a Stock and Asset Purchase Agreement signed in May 2016.

The speakers, who had central roles throughout the eventful transaction, discussed the key business points and the strategies which helped Konecranes to succeed when Zoomlion surfaced as a bidder for Terex in the middle of the process.

Rainer Hilli, Chairman of the Board at Roschier, opened the event, after which Christoph Vitzthum, Chairman of the Board of Konecranes, gave his opening remarks. Stig Gustavson, Past Chairman of the Board of Konecranes and Chairman of the Konecranes/Terex Transaction Team, explained the background to the transaction. Panu Routila, President and CEO of Konecranes, talked the audience through the business side of the case, after which the legal advisors, Scott V. Simpson, Partner and Co-Head of Global Transactions Practice at Skadden; Ivan A. Schlager, Partner and Head of CFIUS at Skadden; and Jan-Anders Wik,  Partner at Roschier, went through the transaction timeline and the key legal points.

The seminar ended with an interesting panel discussion on the lessons learned, strategy and key business points of the transaction. The panel, consisting of Christoph Vitzthum, Panu Routila and Stig Gustavson elaborated further on the topic and answered questions from the audience. The discussion was moderated by Arash Massoudi, the M&A and corporate finance correspondent at the Financial Times based in London.

After the seminar, Fredrik Rydin, Managing Partner of Roschier, thanked the speakers and the audience and invited the guests to continue the evening over some food and drinks on the top floor of the new office.