Clifford Chance has advised KUKA Aktiengesellschaft, Augsburg, on the tender offer for all outstanding shares in Swisslog Holding AG, Buchs, Switzerland.

The offer is made on at the terms set out in the offer prospectus. KUKA Aktiengesellschaft offers CHF 1.35 per registered share in Swisslog Holding AG by way of a public tender offer. This corresponds to a purchase price of CHF 338 million and an enterprise value of CHF 353 million including net liquidity and pension liabilities.

The supervisory board of KUKA AG and the board of directors of Swisslog Holding AG have granted their approval to the transaction. KUKA AG and Swisslog Holding AG have also concluded a Transaction Agreement.

KUKA is funding the transaction predominantly with existing liquid funds. These stem partially from a stock capital increase which was announced to take place should the tender process prove to be successful.

KUKA AG is one of the world's leading suppliers as regards the development and production of robots for industrial use and the development of automated production processes. In 2013, the company generated a turnover of approx. EUR 1.8 billion with about 8,000 members of staff. Swisslog offers automation solutions for hospitals, warehousing and distribution centres and generated a turnover of approx. CHF 633 million (EUR 524 million) with about 2,300 members of staff.

The Clifford Chance team was led by partner Dr. Andreas Dietzel and comprised partner Dr. Wolfgang Richter, counsels Dr. Jörg Rhiel and Jörg Futter, senior associate Dr. Lars Laeger, associate Florian Lechner and transaction lawyers Ömer Cilingir and Moritz Erdmann (all Corporate, Frankfurt), counsel Dr. Wolfgang Schönig (IP) as well as partner Marc Besen and Associate Miriam Kammer (both Antitrust, all Düsseldorf).