Monitoring trustee services
As a condition to the approval of a merger or acquisition, you may be required by one or more of the world’s competition authorities to carry out divestments and/or other undertakings to address anti-trust concerns. As part of this process, you may be required to appoint a monitoring trustee to oversee these remedies. In this situation, the input of a monitoring trustee with tried and tested expertise and a track record in anti-trust, M&A and corporate governance procedures is key.
ING Corporate Finance has trustee teams based in Europe, Asia and the Americas with a range of corporate finance, legal, accounting and forensic experience. In its role as a monitoring trustee, ING monitors compliance with regulatory requirements in an efficient manner designed to minimise disruption to the existing operations of both the divestment business and the merging/acquiring parties.
ING is one of the world’s leading monitoring trustees having monitored over 60 divestment remedies across the globe since 2002. In recent years, our work has focussed on roles as a monitoring trustee in connection with major multi-jurisdictional cases including:
- Ball Corporation’s US$6.4bn acquisition of Rexam to create the world’s largest producer of beverage cans – ING reported to the European Commission, the US Federal Trade Commission and CADE in Brazil in relation to the required divestment of certain can manufacturing facilities in Europe, the United States and Brazil.
- GE’s €11.4bn acquisition of Alstom’s energy business – ING reported to the European Commission and the US Department of Justice in relation to the required divestments which included gas turbine businesses in Europe and the US.
- Lafarge and Holcim’s €47bn merger to create the world’s largest building materials company – ING reported to five regulators (including the European Commission, the US Federal Trade Commission and CADE in Brazil) in relation to the required disposal of Holcim/Lafarge’s businesses in 11 countries.
- Baxter’s US$4bn acquisition of Gambro – ING reported to four regulators (including the European Commission and MOFCOM in China), in relation to the required disposal of Baxter’s CRRT renal dialysis business and certain behavioural remedies.
Please contact us for further credentials and case studies or any other questions.
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