Metall Zug and Miele create joint venture in Infection Control and Life Science area
Metall Zug and Miele have signed an agreement under which Metall Zug will contribute Belimed AG and Belimed Life Science AG, and Miele will contribute the Steelco Group into a new joint venture to be established. Metall Zug will participate in the joint venture based in Zug with 33% and Miele with 67%. The joint venture will be jointly managed, with Metall Zug providing two out of the five board members. Operational management is intended to be carried out by a composite team with representatives from Belimed, Steelco and Miele. The transaction is subject to the approval of the relevant authorities. The approval of the authorities is expected in the first half of 2024.
Lenz & Staehelin advises Metall Zug in this transaction. The team includes Tino Gaberthüel, Simone Ehrsam, Lukas Held and Dominik Mann (all M&A).