Ashurst advises Balyo on SoftBank Group's proposed tender offer for 100% of Balyo's share capital
Ashurst advised Balyo, which transforms manual forklifts into autonomous robots using its proprietary Driven by Balyo™ technology, on SoftBank Group's proposed tender offer for 100% of Balyo's share capital.
This is a friendly bid at a price of €0.85 per share, representing a premium of around 54.3% to the volume-weighted average share price over the last 30 trading days.
This represents a strategic move for both companies. Indeed, Balyo's profile is complementary to SoftBank's existing investments in the transport and logistics sectors. The acquisition will also give Balyo access to SoftBank's global network of more than 470 technology-driven companies, and enable the development of new business relationships to the benefit of both parties.
The Ashurst team was composed of :
- In Paris, François Hellot, Practice Head Corporate CEMEA, Agathe Bourdillon and Jordan Ohayon, associates, and in Frankfurt, Matthias von Oppen, partner, and Valentin Pfisterer, counsel, on corporate and stock market aspects;
- Muriel Pariente, partner, and Jordan Cohen, senior associate, on employment law aspects;
- Christophe Lemaire, partner, and Guillaume Vatin, senior associate, on antitrust and foreign investment control.
TAP Advisors acted as financial advisor to Balyo.
SoftBank Group was advised by Raine, financial adviser, and by law firms Morrison Foerster for English law aspects and Bredin Prat for the French law aspects.
