Jebsen & Jessen’s S$222 million divestment of its 50% stake in MHE-Demag

Acted as the exclusive legal counsel to Jebsen & Jessen in the divestment of its 50% stake in MHE-Demag to Finnish-listed company, Konecranes for approximately S$222 million. MHE-Demag is a joint venture established in 1986 between Demag and Jebsen & Jessen, and is a leading supplier of industrial cranes and services under the MHE and Demag brands. Its material handling business includes engineering, manufacturing and maintaining a comprehensive range of industrial cranes and hoists. The group operates in eight countries, Australia, Indonesia, Malaysia, Singapore, the Philippines, Taiwan, Thailand and Vietnam, with approximately 1800 employees. The MHE-Demag group also distributes within the Asia Pacific region in countries such as Brunei, Cambodia, Laos, Mongolia, Myanmar, Papua New Guinea and Timor-Leste. Partner Terence Quek led the transaction.