Ashurst advised Israeli bank Mizrahi Tefahot Bank on the financing of the acquisition of Lumenis Ltd. by XIO Group. The Chinese investment company purchased the majority of the shares in the NASDAQ-listed medical technology company for US$510 million. The shares were sold by Lumenis' major shareholders, Viola Group and XT Hi-Tech Investments (1992) Ltd., which collectively owned approximately 59 per cent of the shares.

Israel-based Lumenis Ltd. is a global leader in the field of minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets.

The financing agreements were subject to German as well as Israeli law.
Ashurst advised on German law led by Munich-based partner Dr Bernd Egbers and counsel Christiane Bestgen. Associate Isabell Pöller and transaction manager Susanne Kasnitz (all Banking, Munich) assisted.