Hyster-Yale acquires indirect control of Bolzoni S.p.A. for approximately €108.8 million (US$121.5 million)
Clients Hyster-Yale Materials Handling, Inc.
Jones Day advised Hyster-Yale Materials Handling, Inc. in the acquisition of 100 percent of Penta Holding S.p.A., the controlling shareholder of Italian listed company Bolzoni S.p.A., for €53.5 million (US$59.7 million) in cash, resulting in the launch of a mandatory tender offer for all of the remaining shares in Bolzoni S.p.A. for up to an additional €55.3 million (US$61.8 million), for a total consideration of up to €108.8 million (US$121.5 million). Bolzoni S.p.A. is a leading worldwide producer of attachments for forklift trucks.
In addition to M&A representation, Jones Day provided tax and antitrust advice regarding this transaction.