Majority stake in MRI Trading AG sold to CWT Group
On 30 June 2011, the owners of MRI Trading AG, a Swiss commodities trading company, agreed on a sale of a majority stake of 73.81% in MRI to Capsolon Pte Ltd., a wholly-owned subsidiary of the Singapore listed logistics solutions provider CWT Ltd. for a purchase price of approximately USD 94 million, subject to certain adjustments. Completion of the transaction is subject to certain conditions precedent and expected to take place in July 2011. On completion, Capsolon will enter into a shareholders' agreement with the remaining shareholders of MRI.
Lenz & Staehelin advised MRI and its shareholders as legal and tax counsel. The L&S team includes Matthias Wolf, Markus Schaffner, and Samuel Frösch (all corporate and M&A), and Heini Rüdisühli (Tax).