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LEX advises JBT on combination with Marel
3. January, 2025LEX has advised John Bean Technologies Corporation (“JBT“) in connection with the combination with Marel hf. (“Marel“) and its admission to trading and official listing on Nasdaq Iceland‘s Main Market.
As announced on 20 December 2024, JBT‘s voluntary takeover offer was accepted by Marel‘s shareholders representing approximately 97.5% of all issued and oustanding shares in Marel. As a result of the combination – which is carried out through a voluntary takeover offer and a subsequent squeeze out – former Marel‘s shareholders will own approximately 38% of the outstanding shares of the combined company.
The takeover represents the largest transaction in Iceland from the year 2007 and the listing of the combined company‘s shares on Nasdaq Iceland is the largest share listing of all time in Iceland.
The combined company, JBT Marel Corporation, is dual-listed on the New York Stock Exchange and Nasdaq Iceland, with a first day of trading on 3 January 2025.
The combination creates a leading global food and beverage technology solutions company with a market capitalisation of more than EUR 6 billion.
LEX is proud to have acted as legal counsel for JBT in connection with the transaction, alongside Kirkland & Ellis LLP.
The LEX team is led by partners Guðmundur Ingvi Sigurðsson and Stefán Orri Ólafsson and associate Kristinn Ingi Jónsson.
See further information in JBT Marel Corporation‘s press release.
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