Herbert Smith Freehills has advised Düsseldorf-based Rheinmetall AG on the conclusion of a purchase contract with MaxamCorp. Holding S.L. of Madrid to acquire the entire share capital of Expal Systems S.A of Madrid, a globally active ammunition maker. Completion of the transaction, for which a closing date in summer 2023 is sought, is subject to approval by the competition authorities and other regulatory checks. The purchase price agreed between Rheinmetall and MaxamCorp. is based on an enterprise value of €1.2 billion.
The global Herbert Smith Freehills team advising Rheinmetall was jointly led by corporate/M&A partners Dr Sönke Becker (Düsseldorf) and Alberto Frasquet (Madrid).
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