Acquisition of a 25% stake in MHE-Demag (P), Inc. by MHE-Demag (S) Pte. Ltd. from First Philippine Holdings

Pickering Pacific is pleased to announce that as part of our work on the sale of Jebsen & Jessen’s 50% stake in MHE-Demag to Konecranes signed on 5 December 2019, we also advised Jebsen & Jessen on the earlier acquisition by MHE-Demag (S) Pte. Ltd. (“MDS”) of the 25% of MHE-Demag (P), Inc. (“MDP”) owned by First Philippine Holdings (“FPH”). This acquisition was completed on 25 November 2019.

MDP is incorporated in the Philippines and was owned prior to the acquisition at 75% by MDS and 25% by FPH. MDP engages in the production, sales and related services of cranes and components.