In a strategic move to advance innovation in the Infection Control and Life Science domain, Metall Zug and Miele have inked a transformative agreement. The deal outlines the creation of a new joint venture, where Metall Zug will contribute Belimed and Belimed Life Science, and Miele will contribute the Steelco Group.
This joint venture, to be headquartered in Zug, is poised to redefine industry standards. Metall Zug and Miele will collaborate closely, with a 33% and 67% stake respectively, fostering a synergistic approach. The venture will be led by a five-member board, with Metall Zug contributing two members. Operational management will be steered by a dynamic team featuring representatives from Belimed, Steelco, and Miele.
This groundbreaking partnership marks a significant stride towards excellence in infection control and life sciences, solidifying the commitment of Metall Zug and Miele to pioneering advancements in the industry. The transaction awaits approval from relevant authorities, anticipated to be secured in the first half of 2024.
Lenz & Staehelin, serving as legal counsel to Metall Zug, brings expertise to the table, ensuring a seamless execution of this transformative collaboration. The team includes partners Tino Gaberthüel (pictured left) and Simone Ehrsam (pictured right), as well as Lukas Held and Dominik Mann (all M&A).
Noerr acted as lead counsel for Miele, while Bär & Karrer acted as a Swiss legal and tax advisor in the implementation and planning of this transaction. For further information on the involved team members click here. Legance advised Metall Zug on Italian law aspects with a team led by partner Sven von Mensenkampff, with senior counsel Lorenzo Gentiloni Silveri, senior associate Giulia Marina Lazzari and associates Ilaria Stassano, Charlotte Bianchi and Ruggero Artale.